Moody's: Scottish Power, units up to stable

Moody's Investors Service said it revised the outlook on all of the long-term debt and issuer ratings of Scottish Power plc, its U.K. subsidiaries and PacifiCorp, its U.S. subsidiary, to stable from negative.

The outlook revision affects Scottish Power, Baa1; Scottish Power UK Holdings, Baa1; Scottish Power UK plc, A2 (guaranteed) and A3 (unguaranteed); Scottish Power Manweb plc, A2, Scottish Power Distribution Ltd., A2, Scottish Power Transmission Ltd., A2, Scottish Power Investments Ltd., A3; Scottish Power Generation Ltd., Baa1, Scottish Power Energy Retail Ltd., Baa1, Scottish Power Energy Management Ltd., Baa1, Scottish Power Finance (Jersey) Ltd., Baa2 and PacifiCorp, A3 senior unsecured, Baa1 senior unsecured and Baa3 preferred stock.

The change in outlook on Scottish Power's long-term ratings reflects Moody's expectation that the Scottish Power Group will be able to maintain a financial profile consistent with its current ratings despite increasing debt levels and a significant reduction in regulatory risk following favorable recent developments in both the United Kingdom and the United States.

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