S&P turns Eversource Energy view to positive

S&P said it changed the outlook for Eversource Energy and its subsidiaries, except for Public Service Co. of New Hampshire, to positive from stable.

“The positive outlook on Eversource and its other subsidiaries reflects the likelihood that it will sell all of its offshore wind investments and focus solely on its regulated utility businesses. The outlook also reflects our expectation that the company will maintain consolidated FFO to debt of more than 13% while continuing to effectively manage its regulatory risk in Connecticut and Massachusetts,” the agency said in a press release.

Public Service of New Hampshire’s stable outlook reflects the view it will continue to effectively manage its regulatory risk while maintaining stand-alone funds from operations to debt of between 17% and 20%.

The company intends to use the proceeds to fund its regulated businesses activities and pay down debt.

Concurrently, S&P all the companies’ ratings, including Eversource’s A- rating.

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