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BULLETIN: Scottish Power PLC Ratings Unaffected By Completion Of PacifiCorp Disposal Mar 06
Standard & Poors, March 2006
Abstract
LONDON (Standard & Poor's) March 22, 2006--Standard & Poor's Ratings Services said today that its ratings and outlook on U.K.-based electricity and gas utility Scottish Power PLC (A-/Stable/A-2), and its subsidiary Scottish Power U.K. PLC (A-/Stable/A-2), collectively known as Scottish Power, are unaffected by the sale of U.S. subsidiary PacifiCorp (A-/Stable/A-2) to MidAmerican Energy Holdings Co. (A-/Stable/--). The sale of PacifiCorp and the proposed return of capital are in line with our expectations and had already been factored into the ratings. Scottish Power concluded the disposal, ahead of our expectations, for a consideration of $5.1 billion in cash and the assumption of $4.3 billion in net debt and preferred stock. The company plans to return -2.25 billion of the proceeds...
Companies mentioned in this report are: Scottish Power Ltd.,Scottish Power U.K. PLC
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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