S&P: Energy East view stable

Standard & Poor's said it revised the outlook on Energy East Corp. to stable from negative and affirmed the BBB+ corporate credit rating.

The outlook revision reflects an assessment of Energy East's standalone credit strength after its buyout by Iberdrola SA, which has received final regulatory approvals from the New York Public Service Commission, the agency said.

The affirmation and outlook change consider some level of implicit support from Iberdrola regarding Energy East's importance in Iberdrola's future business plans, S&P noted.

Ratings reflect an excellent business profile and a consolidated financial profile that is considered aggressive, the agency said.

Offsetting factors include a weaker regulatory environment and Energy East's consolidated financial profile, the agency added.

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