Moody’s revises American Water to positive

Moody's Investors Service said it affirmed the ratings of American Water Works Co., Inc. (Baa1) and its subsidiaries American Water Capital Corp. (Baa1; P-2 commercial paper rating), New Jersey American Water (A3) and Pennsylvania American Water (A3).

At the same time, the agency changed the outlooks for American Water Works and American Water Capital to positive from stable. The outlooks for New Jersey American Water and Pennsylvania American Water are stable.

"The outlook change for American Water reflects our expectation for a sustained improvement in the financial credit ratios, including a ratio of funds from operations to debt," Moody’s assistant vice president Ryan Wobbrock said in a news release.

"American Water's geographic and regulatory diversity provides a path to achieve a ratings level on par with its largest subsidiaries in New Jersey and Pennsylvania."

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