OPG's long-term corporate credit rating increased to A-
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".
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Groups clash over NH hydropower project
BANGOR, MAINE - Groups supporting and opposing the Northern Pass hydropower project in New Hampshire filed statements Friday in advance of a state committee’s meeting next week on whether it should rehear the project.
The Site Evaluation Committee rejected Eversource’s project last month over concerns about potential negative impacts. It is scheduled to deliberate Monday on Eversource’s request for a rehearing.
The $1.6 billion project would deliver hydropower from Canada to customers in southern New England through a 192-mile transmission line in New Hampshire.
If the Northern Pass project fails to ultimately win New Hampshire approval, the Massachusetts Department of Energy Resources has…
