Fitch Ratings has assigned a “positive” outlook to Connecticut Light & Power, the utility subsidiary of Eversource Energy that now goes by the same name.
Fitch said the outlook, which is up from “stable,” signifies that it believes the Berlin-based CL&P subsidiary will continue to improve financially due to a base-rate increase that took effect in December, higher transmission revenue, and ongoing attempts to reduce operating and maintenance expenses.
Fitch also affirmed its previous issuer default rating of “BBB+” for the former CL&P. The ratings company said it would likely upgrade that default rating by one notch if CL&P can achieve its targeted cost reductions.
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