SSE notes the decision by Moody’s to maintain SSE’s credit rating at ‘Baa1’ but place on negative outlook following completion of their review.
As a long-term sustainable business, SSE believes it should maintain a strong balance sheet and is committed to credit rating ratios that are comparable with private sector utilities across Europe and comfortably above those required for an investment grade credit rating. With its high-quality portfolio of assets and resilient business model with increasing focus on regulated energy networks and renewable sources of energy, SSE believes its credit rating metrics are sustainable and consistent with an ability to secure funding from debt investors at competitive and efficient rates.
Following successful financing activity earlier this year, SSE is unlikely to be requiring significant financing activity in financial markets for the next 2 years.
Gregor Alexander, Finance Director, SSE plc, said:
“A Baa1 credit rating compares favourably to peer companies and allows the company to secure funding at competitive rates. SSE is well-placed to deliver on its £7.5 billion low carbon investment programme over the next five years and has a strong balance sheet, financial discipline and a commitment to credit rating ratios comfortably above those required for an investment grade credit rating.”