Moody's keeps Scottish Power on downgrade review

Moody's Investors Service said it downgraded the unsecured ratings of SP Manweb plc, SP Transmission Ltd., SP Distribution Ltd. and of the debt issued by Scottish Power UK plc guaranteed by SP Transmission and SP Distribution from A2 to A3.

All Scottish Power plc group ratings remain under review for possible downgrade reflecting the agreed bid from Iberdrola for Scottish Power plc.

The rating actions follow the introduction of Moody's revised rating methodology for European regulated utility groups.

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