Standard & Poor affirms SSE's A- Credit Rating

RNS Number : 7861I

SSE PLC

30 July 2012

 



Standard & Poor's Affirms SSE's A- Credit Rating

Standard & Poor's Rating Services have today affirmed SSE's long term rating of A-, and its short-term rating of A-2. At the same time the rating agency has changed SSE's rating outlook from stable to negative.  The change in outlook has been triggered by poor wholesale market conditions and Standard & Poor's current view of the timing and likelihood of any market recovery. As stated in June 2012, SSE expects to issue further hybrid capital securities in the course of the next year.

Gregor Alexander, Finance Director of SSE, said:

"The affirmation of SSE's A- rating is a reflection of its financial discipline over the last 12 months and, while we are disappointed that Standard & Poor's have now put SSE on a negative rating outlook, this is the result of difficult market conditions and follows similar recent moves for a number of SSE's peers."

 

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