S&P lifts Cal Water view to stable

S&P said it revised the outlook on California Water Service Co.'s (Cal Water) to stable from negative.

The agency also said it affirmed the ratings on the company, including the A+ issuer credit rating.

Cal Water 2018 financial results were better than expected, S&P said, and the agency said it expects the company will continue to benefit from stable rate increases and constructive regulatory mechanisms, S&P said.

The stable outlook reflects an expectation of sustained stable financial measures at Cal Water and parent, California Water Service Group, that are consistent with the middle of the range for the intermediate financial risk profile category, the agency said.

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