- Moody’s lowers its outlook for 25 utility companies, including American Electric Power Company (NYSE:AEP), to reflect "the incremental cash flow shortfall caused by tax reform."
- The ratings agency says debt to total capitalization ratios will increase as recent changes in tax laws will dilute utilities’ ratio of cash flow before changes in working capital to debt by an average of 150-250 bps.
- Moody's downgrades AEP to Stable from Positive and 24 other regulated utilities and utility holding companies to Negative from Stable: Avista (NYSE:AVA), Avista Corp . Capital II, Duke Energy (NYSE:DUK), Entergy (NYSE:ETR), New Jersey Natural Gas (NYSE:NJR), Northwest Natural Gas (NYSE:NWN), ONE Gas (NYSE:OGS), Piedmont Natural Gas, Public Service Co. of Oklahoma, Questar Gas (NYSE:STR), South Jersey Gas (NYSE:SJI), Alabama Power Capital Trust V, Alabama Power, Southern Co . (NYSE:SO), Southern Elect Generating, Southwestern Public Service, Wisconsin Gas, American Water Capital, American Water Works (NYSE:AWK), Consolidated Edison of New York, Consolidated Edison (NYSE:ED), Orange and Rockland Utilities, Brooklyn Union Gas, KeySpan Gas East.
- ETFs: XLU, UTG, VPU, GUT, IDU, BUI, FUTY, RYU, UPW, FXU, SDP, PUI, FUGAX, JHMU, UTLF
- Now read: The 90% Renewable Grid: 2 Utilities To Buy
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