Moody’s stabilizes Yorkshire Water view

Moody’s Investors Service said it revised the outlooks for Yorkshire Water Finance plc and Yorkshire Water Services Finance Ltd. to stable from negative and affirmed their ratings. The companies are financing vehicles for Yorkshire Water Services Ltd. which guarantees their debt.

The ratings and stable outlooks reflect the view that Yorkshire Water Services will be able to maintain an adjusted interest coverage ratio (AICR) of around 1.3x and net debt around 77% of regulatory capital value (RCV) over AMP7, in line with guidance for the current rating.

In March, the Competition and Markets Authority reported its decision under which Yorkshire Water will generate stronger cash flow from April 2023 than initially allowed by Ofwat, the economic regulator for water companies in England and Wales, Moody’s said.

© 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.