Fitch Ratings says it is keeping a positive eye on Northeast Utilities and its electricity divisions as the Hartford parent awaits what may be the last regulatory review of its planned $4.7 billion merger with Boston utility NStar.
New York City-based Fitch gave NU an issuer default rating of BBB. It also affirmed existing ratings on Connecticut Light & Power Co., Public Service Company of New Hampshire and Western Massachusetts Electric Company, all BBB. NU also owns Yankee Gas System, which was not covered in Fitch’s review.
The rating outlook for CL&P is Positive, while PSNH and WMECO are stable, Fitch said. Approximately $4.9 billion of debt is affected by the rating actions.
The Massachusetts Department of Public Utilities last week started the hearing for its review of the proposed merger.
