Share this article

print logo

NEW NMP BONDS GET 'BBB' RATING

Duff & Phelps Inc., a credit rating agency, has given a "BBB" rating to $150 million of first mortgage bonds that Niagara Mohawk Power Corp. is offering to finance construction at the utility and reduce short-term debt.

Duff & Phelps said the rating recognizes the risks and reduced earnings Niagara Mohawk is facing because of the shutdown of its Nine Mile Point 1 nuclear power plant, as well as the company's rising costs.

There are no comments - be the first to comment