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S&P ratings update for SSE

09 Dec 2022

Standard & Poor's has today updated SSE's credit rating to 'BBB+ positive outlook'.

The decision to update from ‘BBB+ stable outlook’ reflects the continuing resilience of SSE’s business mix and its ability to create value and respond to volatile market conditions.

The announcement follows SSE's 16 November Interim Results statement for the half-year to 30 September 2022, which set out expectations of capital investment expenditure (including acquisitions) for 2022/23 in excess of £2.5bn, minimal long-term debt refinancing anticipated until FY25 and a strong liquidity position for cash collateral requirements.

"We have quality electricity assets spread across a very deliberate portfolio of economically-regulated and market-based businesses, financial discipline and a long-standing commitment to comfortably maintaining investment-grade credit ratings."

Gregor Alexander Finance Director

Gregor continued: "Today's 'BBB+ positive outlook' decision from S&P, alongside Moody's existing 'Baa1 stable outlook' rating, compare favourably with similar private sector utilities across Europe and will support us as we create value for shareholders and society through delivery of our fully-funded Net Zero Acceleration Programme."