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28/11/2013
NIE Credit Rating At Risk Of Being Downgraded
The credit rating of Northern Ireland Electricity is likely to be downgraded after losing a ruling to the NI utility regulator over price rises.
The Competition Commission upheld a decision by the regulator that NIE could not increase household bills by as much as £25 a year.
It is understood that should the commission confirm its decision early next year, the credit rating on NIE is likely to be downgraded from A- to BBB+.
Ratings agencies evaluate the creditworthiness of companies and governments.
The maximum credit rating for any firm is AAA.
(MH)
The Competition Commission upheld a decision by the regulator that NIE could not increase household bills by as much as £25 a year.
It is understood that should the commission confirm its decision early next year, the credit rating on NIE is likely to be downgraded from A- to BBB+.
Ratings agencies evaluate the creditworthiness of companies and governments.
The maximum credit rating for any firm is AAA.
(MH)
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Northern Ireland WeatherToday:There will be a mixture of bright intervals and a few showers. Best of the sunny spells will be near the North Coast. Feeling on the cool side. Maximum temperature 10 °C.Tonight:Showers will gradually die out during the evening. A cold night with long clear spells leading to a touch of frost in places. Minimum temperature 0 °C.
