OPG's long-term corporate credit rating increased to A-
TORONTO, ONTARIO - Ontario Power Generation Inc. (OPG) announced that Standard & Poor's (S&P) has raised their long-term corporate credit rating to "A-" from "BBB+".
At the same time, S&P affirmed the "A-2" global scale and "A-1(Low)" Canada scale commercial paper rating on OPG. The outlook is stable.
In its announcement, S&P stated that the upgrade in OPG's long-term rating reflects a "closer relationship between the company and its higher-rated owner, the Province of Ontario (AA/Stable/A-1+); and a slightly stronger stand-alone credit profile, given regulatory support and an expected improvement in cash flow metrics".
In addition, it was noted that regulatory oversight by the Ontario Energy Board with respect to establishing regulated prices for OPG's baseload nuclear and baseload hydroelectric assets, a diverse generation portfolio, and cost-competitive position support OPG's strong business risk profile.
In September 2005, S&P affirmed OPG's long-term corporate credit rating at BBB+ and revised its outlook to "positive" from "developing".
Related News
France's nuclear power stations to limit energy output due to high river temperatures
PARIS - The high temperature warning has come early this year but will affect fewer nuclear power plants.
High temperatures could halve nuclear power production at plants along France's Rhone River this week.
Output restrictions are expected at two nuclear plants in eastern France due to high temperature forecasts, nuclear operator EDF said. It comes several days ahead of a similar warning that was made last year but will affect fewer plants.
The hot weather is likely to halve the available power supply from the 3.6 GW Bugey plant from 13 July and the 2.6 GW Saint Alban plant from 16 July, the…
