'A'/'A-1' Ratings Assigned to ScottishPower Subsidiaries Following License Split; on Watch Neg Oct 01

Standard & Poors, October 2001

Abstract
LONDON (Standard & Poor's) Oct. 12, 2001--Standard & Poor's today assigned its single-'A' long-term and its 'A-1' short-term corporate credit ratings to ScottishPower Energy Supply Ltd. (SP Energy Supply) and ScottishPower Energy Trading Ltd. (SP Energy Trading), both subsidiaries of ScottishPower U.K. PLC (ScottishPower U.K.). The ratings were also placed on CreditWatch with negative implications. At the same time, corporate credit ratings were assigned to the companies that will hold the transmission and distribution licenses for the group (see below). The rating action follows the announcement of the formal separation of the ScottishPower U.K. and Manweb PLC's composite electricity licenses into separate generation, transmission, distribution, and energy supply operations. The consolidated ratings on ScottishPower U.K. are unchanged by this action,...

Companies mentioned in this report are: Scottish Power Energy Retail Ltd.,Scottish Power U.K. PLC,Scottish Power Energy Management Ltd.,Scottish Power Investments Ltd.,Scottish Power Generation Ltd.,SP Distribution Ltd.,SP Transmission Ltd.,SP Manweb PLC
Action: New Rating

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.

Scottish Power Energy Retail Ltd.,Scottish Power U.K. PLC,Scottish Power Energy Management Ltd.,Scottish Power Investments Ltd.,Scottish Power Generation Ltd.,SP Distribution Ltd.,SP Transmission Ltd.,SP Manweb PLC

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