S&P boosts Green Mountain Power

S&P said it boosted Green Mountain Power Corp.’s issuer rating to A from A-.

“The upgrade reflects our view that GMP is a core subsidiary of Energir and that we aligned our rating on GMP with the rating on Energir. This assessment reflects our view that it is highly unlikely to be sold; important to the group's long-term strategy of owning and operating gas and electricity distribution, electricity transmission, and renewable energy generation in Vermont, constitutes a significant proportion (about 30% EBITDA) to Energir, fully integrated with the parent and has a strong, long-term commitment of support from the group,” S&P said in a press release.

The outlook is stable.

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