S&P ups American States Water

Standard & Poor's said it raised its ratings on American States Water Co. and its main utility subsidiary, Golden State Water Co., to A from A-. The agency also upgraded the rating on the senior unsecured debt for Golden State Water to A from A-.

The outlook was revised to stable from positive.

The ratings upgrade reflects improvements in American States' financial profile and regulatory environment, coupled with expectations of strong cash flow measures and declining debt leverage, the agency said.

These strengths are tempered by capital requirements for infrastructure replacement needs, compliance with water quality standards and limited control of future water supply, S&P said.

© 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.