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Canadian Utilities Ltd. Nov 11
Standard & Poors, Nov 2011
Abstract
Favorable diversity Conservative financial policies Predictable earnings Negative free cash flow during the next few years Capital-intensive operations The ratings on Alberta-based Canadian Utilities Ltd. (CU) reflect Standard & Poor's Ratings Services' opinion of the company's excellent business risk and significant financial risk profiles as conservative financial policies, stable cash flows, and favorable diversity of subsidiary operations all highlight. In our view, the substantially negative free cash flow generation expected in the next few years and capital-intensive operations counterbalance these strengths. CU, an Alberta-based holding company, engages in both regulated and nonregulated operations that we believe provide a reasonable degree of diversity. Its primary holding, CU Inc. (A/Stable/A-1), is in turn a utility holding company with several wholly owned, primarily...
Companies mentioned in this report are: Canadian Utilities Ltd.,ATCO Ltd.,CU Inc.,WA Network Holdings Pty Ltd.
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 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: Full Analysis
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