Canadian Utilities' senior unsecured debt rating raised to 'A' from 'A-' - S&P |
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Published
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Fri, 19 Oct 2007 06:50
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MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said it has raised its senior unsecured debt rating on Canadian Utilities Ltd (CU) to 'A' from 'A-' and has affirmed the company's long-term corporate credit rating at 'A' with a stable outlook.The ratings agency said the ratings on CU reflect the good diversity of subsidiary operations, its conservative financial policies, and stable and predictable earnings.Further, the equalization of the senior unsecured debt rating with the corporate credit rating reflects the company's diversification and the financial separation among its investments, S&P said.The ratings agency said the stable outlook reflects continued expectations of stable operations and moderate earnings growth at CU's primary subsidiaries.The ratings agency, however, said the negative discretionary free cash generation expected in the next few years offsets the ratings.TFN.newsdesk@thomson.comrku/manCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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