Fitch: Eversource notes BBB+

Fitch Ratings said it assigned a BBB+ rating to Eversource Energy's $300 million issuance of senior unsecured notes.

The five-year notes mature March 15, 2022 and will rank pari passu with Eversource's existing unsecured debt, Fitch said.

The proceeds will be used to repay a portion of outstanding short-term debt, the agency said.

The outlook is positive.

The ratings largely reflect the relatively stable earnings and cash flow of the company's six regulated electric or natural gas distribution utility subsidiaries: Connecticut Light and Power Co., NSTAR Electric Co., NSTAR Gas Co., , Public Service Co. of New Hampshire, Western Massachusetts Electric Co. and Yankee Gas Services Co., Fitch said.

The ratings reflect Eversource's three-state service territory, which provides some regulatory diversity that is further enhanced by significant investment in transmission projects regulated by the Federal Energy Regulatory Commission, the agency said.

The ratings also consider operational changes that the company implemented following the 2012 acquisition of NSTAR Electric and NSTAR Gas, S&P said.

These changes have provided long-term cost-saving opportunities, the agency said.

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