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BULLETIN: Great Lakes Power Inc. Credit Quality Unaffected by U.S. Assets Acquisition Nov 03
Standard & Poors, Nov 2003
Abstract
TORONTO (Standard & Poor's) Nov. 20, 2003--Standard & Poor's Ratings Services today said Great Lakes Hydro Income Fund's completed US$30 million acquisition of three (16.5 MW total capacity) hydroelectric stations in New Hampshire and Maine from Hafslund (Norwegian power company) will have no effect on the 'BBB' corporate credit rating on Great Lakes Power Inc. (the fund's corporate parent and 50.1% equity owner). The newly acquired assets are consistent with the company's existing business risk profile as they marginally add to the growing diversification of its underlying asset base. The rating is supported by Great Lakes Power's average risk business profile, with the increasing diversification of its low-risk, low-cost, long-life hydroelectric assets combined with contractual and regulatory frameworks that support...
Companies mentioned in this report are: Brookfield Renewable Power Inc.,Brookfield Renewable Power Fund
Action: S&P Event
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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