December 6, 2012 / 5:26 PM / 5 years ago

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

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.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below