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ScottishPower First Sterling Bond Issue Rtd A+ by S&P Jan 97 Product Image

ScottishPower First Sterling Bond Issue Rtd A+ by S&P Jan 97

  • ID: 1873655
  • January 1997
  • Standard & Poors

Abstract
LONDON -- Standard & Poor's CreditWire 1/27/97 -- Standard & Poor's today has assigned its single `A' plus long-term rating to ScottishPower's plc 10-year 200m Sterling bond issue. The rating reflects the operational benefits and the marginally improved business position, but weaker financial profile arising from ScottishPower's acquisition of Southern Water plc in mid-1996. The rating also acknowledges the managerial challenges facing ScottishPower associated with the assimilation of a range of sectorally and regionally diverse businesses, in a generally dynamic market environment. The Southern Water take-over was financed through a combination of debt and ScottishPower shares. ScottishPower is a vertically integrated electric utility serving 1.8 million customers in the south of Scotland. It owns and operates power stations with a...

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

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