S&P affirms Green Mountain

Standard & Poor's said it affirmed its ratings on Green Mountain Power Corp., including the BBB corporate credit rating.

The outlook is stable.

The agency said that the issuer is owned by Northern New England Energy Corp., a wholly owned subsidiary of Gaz Metro Inc. (A-/stable).

At the same time, the agency said it removed the ratings from Creditwatch. It had placed them on Creditwatch with developing implications on June 23, following parent company Gaz Metro's announcement that it would acquire Central Vermont Public Service Corp.

"The affirmation and stable outlook reflect Green Mountain's current credit profile and our expectation that its credit metrics after the CVPS acquisition will support a BBB rating," said S&P credit analyst Matthew O'Neill.

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