S&P places SSE on negative watch

S&P said it placed its A- long-term issuer credit rating on SSE plc on CreditWatch with negative implications, as well as its A- senior unsecured debt and BBB hybrid debt.

S&P affirmed its short-term ratings on SSE's commercial paper at A-2.

“The CreditWatch placement reflects our opinion that the recently announced profit warning will hamper SSE's capacity to maintain credit metrics in line with our expectations for the rating, including FFO to debt at or above 23%,” S&P said in a news release.

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