Credit Outlook Is Stable For Canadian Public Electric Utilities, Moody's Says.NEW YORK--(BUSINESS WIRE)--Nov. 17, 1994--The credit profile of province-owned electric utilities is stable, reflecting the explicit provincial government guarantee and the stable credit outlook for provincial governments, says Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. in a report issued this week. The report, "Canadian Electric Utilities This is a list of Canadian public and private electric utilities, by province. Alberta
named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Environment," was written by William Streeter, vice president and assistant director, and Yves Lemay, vice president, Canadian Ratings Group. The report follows Moody's Provincial Fiscal Outlook released earlier this fall. "Like their U.S. counterparts, Canadian electric utilities are now operating in a more challenging environment," says Streeter. "Canadian public utilities are adjusting to less favorable supply and demand conditions and increasing government levies. General weariness about electricity rate increases and the threat of market deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. are also pressuring Canadian utilities Canadian Utilities Limited TSX: CU.NV is a member of the ATCO Group of companies. It is a Calgary, Alberta company operating businesses in power generation, utilities, logistics and energy services and technologies. It has than 5,000 employees. to maintain low cost structures." "Although the explicit provincial guarantee is the key support here, other factors come into play to support the stable outlook," Lemay says. "For example, the competitive cost structure of the province-owned utilities by North American standards is a positive consideration. Also important are the utilities' efforts to remain competitive and to preserve the ability to service debt without provincial government support." "Management efforts to curtail operating costs, streamline operations, and scale back capital plans bode well for a strengthening of the utilities' income and balance sheet statements over the medium term," says Lemay. "Stronger financial margins will be particularly important," Streeter added, "if market deregulation were to take hold in Canada and public utilities have to face direct competition in their service areas." For further information or a copy of the report, please call one of Moody's local press contacts: -0- LONDON - Victoria Conway (71) 772-5454 PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. - Mauricette Salque 1.42.96.14.24 FRANKFURT - Detlef Scholz 49-69 24 28 4 0 MADRID - Michael Buneman 34 1 522 2812. TOKYO - Velvet Yoshinami (03) 3593-0734 HONG KONG -Patrick Winsbury 852-509 0200 SYDNEY - Catherine Fahy (02) 241-4693 TORONTO - Hilary Parkes (416) 214-1635 NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - Debra Fennell (212) 553-0923; CONTACT: Moody's Investor Service, New York, 212/553-0533 |
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