S&P pulls Puget Energy from watch

S&P said it affirmed its ratings for Puget Energy Inc. and Puget Sound Energy Inc. and removed the ratings from negative watch. S&P placed the ratings on watch on July 23.

The agency removed the negative watch after the Washington Utilities and Transportation Commission issued a clarification order. S&P said it also considered the company's marginally improving financial measures.

“The clarification order increases PSE's annual revenue requirement to about $39 million from the previous rate order of about $2 million. As a result, we expect financial measures to marginally improve, somewhat lowering the probability of a downgrade,” S&P said in a press release.

The outlook is negative. “The negative outlook reflects PE's minimal financial cushion and the possibility of our reassessing our view of the regulatory construct in the state of Washington,” S&P said.

© 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.