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S&P reaffirms SSE ratings

25 Nov 2021

SSE welcomes Standard & Poor’s reaffirmation today of its credit rating at ‘BBB+ outlook stable’.

The decision follows completion of S&P’s review of SSE’s Net Zero Acceleration Programme, which was published on 17 November outlining a fully-funded plan for £12.5bn of capital investment to drive growth and unlock shareholder value in the five years to 2026 and beyond.

With its large, high-quality portfolio of low-carbon assets and resilient mix of economically-regulated and market-based businesses, SSE is confident in its an ability to secure debt at competitive and efficient rates, which will support funding of the strategic opportunities arising out of the transition to net zero.

"A ‘BBB+ outlook stable’ credit rating compares favourably with European private sector utilities and it comes a week after Moody’s lifted their outlook for SSE from ‘Baa1 negative’ to ‘Baa1 stable’.

We are well placed to deliver on our strategic objective of creating value by developing, building, operating and investing in the electricity infrastructure and businesses needed in the transition to net zero.

We have a strong balance sheet, financial discipline and an ongoing commitment to comfortably maintaining investment grade credit ratings. This leaves us in a strong position to fund our Net Zero Acceleration Programme."

Gregor Alexander, SSE Finance Director