S&P: Scottish Power unaffected

Standard & Poor's said its ratings and outlook on Scottish Power plc (A-/stable/A-2) are unaffected by its U.S. subsidiary PacifiCorp (A-/stable/A-2) gaining additional approval for a multistate regulatory process.

S&P said the agreement is indicative of PacifiCorp's improving regulatory relationship (which has also been highlighted by the recovery of elevated fuel and purchased power costs) and lays the foundation for a more integrated and transparent regulatory environment.

The multistate regulatory process, which includes a common cost allocation methodology, has been approved in those states in which PacifiCorp receives 90% of its revenues.

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