Summary: London Hydro Inc. Sep 11
Standard & Poors, September 2011
Abstract
The rating on London Hydro Inc. (LHI) reflects what Standard & Poor's Ratings Services views as an excellent business risk profile, which a transparent regulatory environment and low-risk monopoly electricity distribution business sustain. What we consider to be an intermediate financial risk profile, which the company's stable and predictable cash flows support, offsets these credit strengths. LHI serves one of Canada's midsize municipalities, with a customer base of about 147,000. As of June 30, 2011, LHI has total debt outstanding of C$98.2 million including a C$70.0 million promissory note held by its sole owner, the City of London, Ont. (not rated). A consistent and transparent regulatory framework supports the local distribution company's (LDC) cash flow stability, in our view. The...
Companies mentioned in this report are: London Hydro Inc.
Action: Review
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
London Hydro Inc.
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