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Fitch Ratings Affirms Hydro-Quebec; Rating Outlook Stable.
Business Editors
NEW YORK--(BUSINESS WIRE)--Aug. 21, 2003
Fitch Ratings has affirmed the following ratings on Hydro-Quebec's (HQ) unsecured/medium-term notes at 'AA-' and commercial paper program at 'F1+'. The Rating Outlook is Stable.
HQ's ratings are based upon the guarantee of HQ's sole owner, the Government of Quebec. Quebec's direct obligations, including the guarantee, were recently affirmed at 'AA-' with a Stable Rating Outlook by Fitch.
Aside from the provincial guarantee, HQ derives its credit strength from its quasi-monopoly position in Quebec, its highly desirable fleet of hydroelectric assets, and other attributes not paralleled in comparable utilities in North America. As…
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Source: HighBeam Research, Fitch Ratings Affirms Hydro-Quebec; Rating Outlook Stable.
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