S&P revises NY's Long Island Power Authority outlook to negative

Thu Dec 6, 2012 12:25pm EST

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Dec 6 (Reuters) - Standard & Poor's Ratings Service said on Thursday it revised New York's Long Island Power Authority credit outlook to negative from stable.

The rating agency also affirmed its rating on the authority's A-minus bonds, affecting $6.6 billion of debt.

"The outlook revision reflects our view that protracted power outages following Superstorm Sandy contribute to a political climate that diminishes the utility's rate-making and financial flexibility," said S&P credit analyst David Bodek in a statement.