Research Update: U.K.-Based Utility Scottish Power Outlook Revised To Stable On Revision Of Outlook On Parent; 'A-/A-2' Rtgs Affirmed Oct 11
Standard & Poors, October 2011
Abstract
We have revised our outlook on Spain-based utility Iberdrola S.A., the ultimate parent of Scottish Power Ltd., to stable from negative to reflect strengthening financials. In line with our methodology on rating parent companies and their subsidiaries, we equalize the ratings and outlook on U.K.-based electricity and gas vertically integrated utility Scottish Power with those on its ultimate parent. We are therefore revising our outlook on Scottish Power and related entities to stable and affirming our 'A-/A-2' corporate credit ratings. The stable outlook on Scottish Power reflects that on its ultimate parent Iberdrola. On Oct. 7, 2011, Standard & Poor's Ratings Services revised its outlook on U.K.-based vertically integrated electricity and gas utility Scottish Power Ltd. and related entities (collectively,...
Companies mentioned in this report are: Scottish Power Ltd.,Iberdrola S.A.,Scottish Power U.K. PLC,Iberdrola International B.V.,Scottish Power Energy Management Ltd.,Scottish Power Investments Ltd.,Scottish Power Energy Retail Ltd.,Scottish Power Generation Ltd.,SP Distribution Ltd.,SP Transmission Ltd.,SP Manweb PLC,Scottish Power Finance U.S.,Iberdrola Finanzas S.A.U.,Scottish Power U.K. Holdings Ltd.,Iberdrola Finance Ireland Ltd.,Scottish Power Energy Networks Holdings Ltd.,SPD Finance UK PLC
Action: Affirmed
Action: Outlook: Stable
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Scottish Power Ltd.,Iberdrola S.A.,Scottish Power U.K. PLC,Iberdrola International B.V.,Scottish Power Energy Management Ltd.,Scottish Power Investments Ltd.,Scottish Power Energy Retail Ltd.,Scottish Power Generation Ltd.,SP Distribution Ltd.,SP Transmission Ltd.,SP Manweb PLC,Scottish Power Finance U.S.,Iberdrola Finanzas S.A.U.,Scottish Power U.K. Holdings Ltd.,Iberdrola Finance Ireland Ltd.,Scottish Power Energy Networks Holdings Ltd.,SPD Finance UK PLC
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