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S&P downgrades Alectra
S&P said it lowered its ratings on Alectra Inc. and its senior unsecured notes to A- from A.
“We downgraded Alectra to reflect the increased contribution from its non-utility business. Following the first year of operations by HPS–which the company acquired in January 2021–and management's strategic shift to expand its non-utility business, we now expect that non-utility operations will consistently contribute about 10% of Alectra's consolidated EBITDA through 2024.
The outlook is stable.
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