(The following statement was released by the rating agency)
Link to Fitch Ratings' Report: Recovery Ratings and Notching Criteria for
Utilities
https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=878227
NEW YORK, March 04 (Fitch) Fitch Ratings has updated its criteria report
"Recovery Ratings and Notching Criteria for Utilities". The report replaces one
with the same name dated 5 March 2015.
This utilities, power and gas sector-specific criteria report describes the
rationale and circumstances under which debt instrument ratings receive a
standard one-notch uplift above the relevant Issuer Default Rating (IDR).
An IDR represents an issuer's probability of default, while debt instrument
ratings incorporate Fitch's recovery analysis of the instruments. Debt
obligations deemed to have above-average recovery prospects will have ratings
notched above the IDR, while those with below-average recovery prospects will
have ratings notched below the IDR.
The report is available at www.fitchratings.com, or by clicking on the link
above.
Contact:
Robert Hornick
Senior Director
+1-212-908-0523
Josef Pospisil
Managing Director
+44 20 3530 1287
Fitch Ratings, Inc.
33 Whitehall St.
New York, NY 10004
Media Relations: Alyssa Castelli, New York, Tel: +1 (212) 908 0540, Email:
alyssa.castelli@fitchratings.com; Elizabeth Fogerty, New York, Tel: +1 (212) 908
0526, Email: elizabeth.fogerty@fitchratings.com.
Additional information is available on www.fitchratings.com.
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