LONDON -- Standard & Poor's CreditWire 3/11/97 -- Standard & Poor's today has assigned its single-`A'-plus rating to Scottish Hydro-Electric plc's (Hydro-Electric) 10-year Sterling bond issue. In part, the funds will be used to finance the purchase of the remaining 50% share of the Keadby generation plant from NORWEB, announced recently. This increased level of debt was anticipated and signaled in our rating action of Dec. 3, 1996. Hydro-Electric's general credit quality is based on the company's business diversity, operational strengths and stable regulatory environment, but is offset by the increasing importance to the company of generation and supply in the competitive England & Wales market. In future, higher financial leverage will result from a combination of further announced investment...
Companies mentioned in this report are:
- SSE PLC
Action: New Rating
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Research type: News
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