Standard & Poor’s Lowers Hydro One Inc. Ratings

Briefly Noted

2002-02-26 [] Standard & Poor’s lowered its long-term corporate credit rating on electricity transmission and distribution operator Hydro One Inc. to single-‘A’-plus from double-‘A’-minus due to a weaker-than-expected financial profile. The short-term corporate credit rating was also lowered, to ‘A-1’ from ‘A-1’-plus. The downgrade reflects weaker-than-anticipated profitability and cash flow protection measures that no longer supports a credit rating in the double-‘A’ range, according to Standard & Poor’s.


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