Fitch lifts three utilities, Eversource to positive

Fitch Ratings said it upgraded the long-term issuer default ratings of the Connecticut Light and Power Co., Public Service Co. of New Hampshire and Western Massachusetts Electric Co. (Wmeco) to A- from BBB+.

The agency also said it affirmed the long-term issuer default ratings of parent company Eversource Energy and its other rated utility subsidiaries: Nstar Electric Co. and NSTAR Gas Co.

Fitch also said it revised the outlook on Eversource to positive from stable.

The outlooks on Connecticut Light, Public Service, Wmeco, NSTAR Electric and NSTAR Gas are stable.

Connecticut Light’s long-term issuer default rating was upgraded to A- from BBB+, senior secured debt to A+ from A, senior unsecured debt and revenue bonds to A from A- and preferred stock to BBB+ from BBB.

Public Service’s long-term issuer default rating was upgraded to A- from BBB+ and senior secured debt to A+ from A.

Wmeco’s long-term issuer default rating to A- from BBB+ and senior unsecured debt and revenue bonds to A from A-.

Eversource Energy’s long-term issuer default rating was affirmed at BBB+, senior unsecured debt at BBB+, short-term issuer default rating at F2 and commercial-paper at F2.

NSTAR Electric’s long-term issuer default rating was affirmed at A, senior unsecured debt at A+, preferred stock at A-, short-term issuer default rating at F1 and commercial-paper at F1.

NSTAR Gas’s long-term issuer default rating was affirmed at A- and senior secured debt at A+.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.