| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers E > Headlines for Essential Utilities Inc. > News item |
S&P pares Essential Utilities
S&P said it lowered Essential Utilities Inc.’s issuer rating to A- from A.
“Since 2020, Essential's financial metrics have been weak for the previous rating. Essential's consolidated FFO to debt for 2022 and 2023 was 11% and 10.9%, respectively, well below our previous downgrade threshold of 12%. Historically, financial performance was negatively affected by acquisitions, regulatory lag or a stay out of natural gas rate cases in Pennsylvania from 2019-2023 after the acquisition of PNG, robust capital spending, and inflation,” the agency said in a press release.
S&P said it forecasts Essential's consolidated FFO to debt to be 10%-12% through 2026. “We expect that financial performance will continue to be pressured by acquisitions, inflation, higher interest rates, and robust capital spending.”
The outlook is stable.
© 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.