Moody’s stabilizes Connecticut Light view

Moody’s Investors Service said it changed its outlook for Connecticut Light and Power Co. to stable from negative and affirmed its ratings, including its A3 issuer rating, the first mortgage bond rating at A1 and the preferred share rating at Baa2.

“The stable outlook for CL&P incorporates our expectation that the utility will be able to prudently manage its O&M expense during the distribution rate freeze and continue to utilize non-distribution regulatory recovery mechanisms to maintain a financial profile that is commensurate for its A3 rating including a ratio of CFO pre-W/C to debt in the 20-22% range. At the same time, the stable outlook reflects the company's ongoing effort to rebuild its relationship with key stakeholders including state regulators and customers,” Moody’s said in a press release.

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