Fitch stabilizes Scotland Gas, Southern Gas view

Fitch Ratings said it revised Southern Gas Networks plc's and Scotland Gas Networks plc's outlooks to stable from negative, while affirming the gas distribution networks' long-term issuer default ratings at BBB.

The affirmation reflects expectations that Southern’s and Scotland GN’s financial profiles will remain appropriate for the ratings, despite expected materially lower earnings in the new price control from April 2021 to March 2026 (GD2), the agency said.

“The outlook revision reflects our upwardly revised forecast post-maintenance interest coverage ratios (PMICR) for GD2, based on the final regulatory determination and remedial measures taken by the group to reduce interest charges,” Fitch said in a press release.

© 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.