Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for Otter Tail Corp. > News item |
Fitch downgrades Otter Tail outlook to negative
Fitch Ratings said it affirmed the long-term issuer default rating of Otter Tail Corp. at BBB- and the long term issuer default rating of its regulated electric utility subsidiary, Otter Tail Power Co. at BBB.
The outlook is revised to negative from stable.
The ratings take into consideration the company's unusual business portfolio, including a relatively small electric utility and a mix of small cyclical industrial businesses that operate in fragmented and competitive markets, Fitch said.
The company generally does not benefit from advantageous size and scale in its industrial markets, the agency said.
Due to the risks of its cyclical, diversified businesses, Fitch said it rated Otter Tail one notch below Otter Tail Power.
© 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.