| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers O > Headlines for Otter Tail Corp. > News item |
Moody’s assigns Baa2 to Otter Tail
Moody's Investors Service said it assigned a Baa2 issuer rating to Otter Tail Corp. (OTC) and affirmed Otter Tail Power's (OTP) A3 issuer rating.
The outlooks are stable.
"Otter Tail Corporation's Baa2 issuer rating reflects its strong credit metrics and constructive regulatory environments at its principal utility subsidiary OTP. The rating is principally constrained by higher business risk from OTC's non-utility manufacturing and plastics operations," Moody's analyst Jairo Chung said in a news release.
Over the next three years, the agency expects OTC to generate strong and stable financial metrics, including cash flow from operations excluding changes in working capital (CFO pre-WC) to debt in the low to mid 20% range.
© 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.