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".
Related News

Australia PM rules out taxpayer funded power plants amid energy battle
MELBOURNE - Australian Taxpayers won't directly fund any new power plants despite some Coalition MPs seizing on a new report to call for a coal-fired power station.
The Australian Competition and Consumer Commission recommended the government give financial certainty to new power plants, guaranteeing energy will be bought at a cheap price if it can't be sold.
It's part of a bid to cut up to $400 a year from average household power prices.
Prime Minister Malcolm Turnbull said the finance proposal had merit, but he ruled out directly funding specific types of power generation.
"We are not in the business of subsidising one…