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)

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