S&P Affirms East Midlands Electricity Ratings Dec 95
- ID: 1786687
- December 1995
- Standard & Poors
LONDON -- Standard & Poor's CreditWire 12/15/95 -- Standard & Poor's affirms its double-`A' long-term and its `A-1'-plus short-term rating on East Midlands Electricity PLC (EME) and maintains its negative long-term rating outlook. The rating affirmation accounts for the financial effects of the recently announced special dividend. The ratings continue to reflect the company's cash generative core business, a stable regulatory environment, and reduced involvement in noncore activities. In the fall of 1994, the company offered its shareholders a UK187 million special dividend as part of its balance sheet restructuring. On Dec. 13, 1995 EME confirmed its intention to offer its National Grid shares to shareholders, and announced a further special dividend of UK238.1 million payable at fiscal 1996 year-end....
Companies mentioned in this report are:
- Western Power Distribution (East Midlands) PLC
Action: New Rating
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