Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Emera Inc. > News item |
S&P affirms Nova Scotia Power, Emera
Standard & Poor's said it affirmed the BBB+ long-term corporate credit rating on Nova Scotia Power Inc. as well as the BBB+ long-term corporate credit rating on Emera Inc.
The outlook is stable.
Ratings on Nova Scotia Power reflect the consolidated business risk and financial risk profiles of its sole shareholder, Emera Inc., S&P analyst Bato Kacarevic said in a statement.
Ratings on Emera reflect its stable and predictable regulated cash flows from its utility operations, underpinning the strong business risk profile, the agency said.
The stable and predictable earnings from Emera's primary regulated businesses, Nova Scotia Power and Maine-based Bangor Hydro-Electric Co. (not rated), and the Brunswick Pipeline support the ratings, the agency said.
A significant financial risk profile and some exposure to higher risk energy marketing offset these strengths, the agency noted.
Nova Scotia Power benefits from its monopoly position as the principal electricity supplier in the Province of Nova Scotia (A+/stable/A-1+) and its risk profile has improved with the introduction of a fuel-adjustment mechanism, which will result in pass-through of fuel costs into rates, according to the agency.
S&P said it expects Emera to maintain a debt-to-EBITDA ratio of less than 6x.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.