Fitch affirms Scottish and Southern

Fitch Ratings said it affirmed Scottish and Southern Energy plc's senior unsecured AA- rating and removed it from Rating Watch negative. Its short-term rating is affirmed at F1+.

At the same time, Fitch has assigned the company a stable outlook.

According to Fitch, the senior unsecured rating was placed on Rating Watch negative on Aug. 31, 2004 on concerns that Scottish and Southern Energy's credit profile would be materially impaired by its participation in a consortium (now called Scotia Gas Networks plc) to acquire two gas distribution businesses from Transco plc (rated A/F1).

Further analysis, incorporating recently published results for the financial year ended March 31, 2005, indicates that a AA- rating is still appropriate, Fitch said.

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