The ratings on U.K.-based, vertically integrated electricity utility EDF Energy PLC reflect Standard & Poor's Ratings Services' view of the group's stand-alone credit profile (SACP) which we assess at 'BBB+' and the support of its 100% owner Electricite de France S.A. (EDF; A+/Stable/A-1). They incorporate two notches for exceptional parental support, since EDF Energy is EDF's largest fully owned foreign subsidiary and forms an important part of the group's European strategy. EDF's acquisition of U.K.-based nuclear generator British Energy Group PLC (not rated) reinforces the key importance of the U.K. market for the group. EDF has demonstrated its credit support for EDF Energy through large equity injections and the ongoing provision of substantial intragroup loans. The ratings also reflect the...
Companies mentioned in this report are:
- EDF Energy PLC
- Electricite de France S.A.
- Eastern Power Networks PLC
- South Eastern Power Networks PLC
- London Power Networks PLC
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