ScottishPower Rtg on S&PWatch;Acquisitn Bid Announcd May 96

  • ID: 1871050
  • May 1996
  • Standard & Poors
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  • Scottish Power U.K. PLC
  • MORE

NY -- Standard & Poor's CreditWire 5/28/96 -- Standard & Poor's today has placed its `A-1'-plus short-term rating of ScottishPower PLC on CreditWatch with negative implications. The CreditWatch placement follows today's announcement by ScottishPower that it wishes to take over Southern Water PLC (unrated) -- the U.K. regional water company. This move acknowledges uncertainties concerning the financial and operational implications for ScottishPower if successful in its bid. Standard & Poor's recognizes that the funding of such a takeover, particularly if the cash alternative were to be sought by a large percentage of Southern Water's shareholders, may lead to weaker debt servicing capacity than would be consistent with its current rating. ScottishPower's current short-term rating reflects business diversity, operational strengths, stable...

Companies mentioned in this report are:
- Scottish Power U.K. PLC

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- Scottish Power U.K. PLC

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