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Summary: London Hydro Inc. Sep 11

  • ID: 1886455
  • September 2011
  • Standard & Poors
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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

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 READ MORE >

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London Hydro Inc.

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