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Prospect News home > News index > List of issuers S > Headlines for Scottish Power plc > News item
Published on 9/7/2005 in the Prospect News Convertibles Daily.

S&P: Scottish Power unaffected

Standard & Poor's said its ratings and outlook on Scottish Power PLC (A-/stable/A-2) remained unchanged following the company's announcement of a significant corporate restructuring.

The restructuring will result in £60 million of annual cost savings, resulting from numerous board and senior management changes in addition to the end of a wide range of reporting, regulatory and other management functions, the agency said.

The restructuring is a result of the company's pending sale of its U.S. unit, PacifiCorp (A-/Watch negative/A-2), S&P added.


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