Fitch ups Western Massachusetts Electric

Fitch Ratings said it upgraded Western Massachusetts Electric Co.’s senior unsecured debt rating to A+ from A and withdrew its long-term issuer default rating following the completion of its merger with sister utility Nstar Electric Co.

Western Massachusetts Electric unsecured debt was assumed by Nstar Electric.

The agency also affirmed NSTAR Electric's long-term issuer default rating at A, short-term issuer default rating at F1 and all the company's debt security ratings.

The outlook on Nstar Electric is stable.

Nstar Electric is the surviving entity following its merger with Western Massachusetts Electric. Given Western Massachusetts Electric’s small size and similarly strong financial metrics, Fitch said it does not expect the financial metrics of the combined entity to be materially different than Nstar Electric's current financial metrics.

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