S&P affirms Wessex Water

S&P said it affirmed the BBB+ long-term corporate credit rating on Wessex Water Services Ltd. and affirmed the BBB+ issue rating on the company's senior unsecured notes.

The outlook is stable.

The agency said the affirmation reflects an expectation that Wessex Water will continue to demonstrate above average operating performance, with funds from operations to debt remaining above 9% throughout the end of the current regulatory period in March 2020.

“In our view, the credit quality of Wessex Water's parent, YTL Power International Bhd., has weakened but we continue to assess Wessex Water as partly insulated from its parent,” S&P said in a news release.

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