S&P Maintains Negative Outlooks on Emera, Subsidiaries on Weak Financial Performance-March 2024-www.financetom.com

S&P Maintains Negative Outlooks on Emera, Subsidiaries on Weak Financial Performance

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S&P Maintains Negative Outlooks on Emera, Subsidiaries on Weak Financial Performance

Mar 12, 2024 7:46 AM

10:26 AM EDT, 03/12/2024 (MT Newswires) -- S&P Global Ratings said Monday that it has maintained the negative outlooks on Emera Inc. ( EMRAF ) and its subsidiaries on weak financial performance.

The rating agency has affirmed its ratings on Emera ( EMRAF ), including the BBB issuer credit rating. S&P also affirmed the ratings on its rated subsidiaries, TECO Energy Inc., and Tampa Electric Co., including the BBB+ issuer credit ratings for Tampa Electric.

Additionally, the agency affirmed the ratings on its subsidiary Nova Scotia Power Inc., including the BBB- issuer credit rating.

S&P expects the company to execute its near-term strategic plan to delever through the sale of non-core assets during the first half of 2024 and use the proceeds to reduce debt.

Price: 48.79, Change: -0.08, Percent Change: -0.16

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