S&P lifts Green Mountain, debt

Standard & Poor's said it raised its ratings on Green Mountain Power Corp., including the issuer credit rating to BBB+ from BBB.

At the same time, the agency raised Green Mountain's senior secured debt rating to A from A- based on its 1+ recovery rating, which reflects a highest expectation for recovery (100%).

All ratings were removed from CreditWatch, where they were placed with positive implications on Nov. 26.

The outlook is stable.

"The upgrade reflects our view that GMP is 'moderately strategic' to ultimate parent Gaz Metro Inc. and that its corporate credit rating incorporates a one-notch uplift from our 'bbb' stand-alone credit profile on the company," S&P credit analyst Matthew O'Neill said in a news release.

"We deem GMP to be important to Gaz Metro's long-term strategy, unlikely to be sold in the near term, and will continue to be supported by Gaz Metro's management."

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