Severn Trent PLC ST Plc and STW - Credit Rating Downgrade (6755C)
11 Febbraio 2020 - 5:08PM
UK Regulatory
TIDMSVT
RNS Number : 6755C
Severn Trent PLC
11 February 2020
Severn Trent Plc and Severn Trent Water Limited - Credit Rating
Downgrade
Severn Trent notes the decision of Moody's Investor Services
("Moody's") to downgrade Severn Trent's long-term credit ratings by
one notch. The ratings remain investment grade and are in line with
the assumptions in the Severn Trent Water Limited ("Severn Trent
Water") business plan for the regulatory period 2020-2025. Ofwat's
Final Determination in relation to this period was accepted by
Severn Trent Water on 28 January 2020.
Moody's have downgraded the issuer rating of Severn Trent Water
to Baa1 from A3 as well as the senior unsecured debt ratings of
Severn Trent Utilities Finance Plc, whose issuance is guaranteed by
Severn Trent Water. Concurrently, the rating agency downgraded the
issuer rating of Severn Trent Plc to Baa2 from Baa, as well as the
senior unsecured debt ratings of Severn Trent Plc. The P-2
short-term ratings have been affirmed. All ratings have a stable
outlook.
Enquiries
Investors & Analysts
Richard Eadie Severn Trent Plc +44 (0) 7889 806578
Head of Investor Relations
Rachel Martin Severn Trent Plc +44 (0) 7824 624011
Investor Relations Manager
Media
Press Office Severn Trent Plc +44 (0) 247 771 5640
Jonathan Sibun Tulchan Communications +44 (0) 207 353 4200
Cautionary statement regarding forward-looking statements
This document contains statements that are, or may be deemed to
be, 'forward-looking statements' with respect to Severn Trent's
financial condition, results of operations and business and certain
of Severn Trent's plans and objectives with respect to these
items.
Forward-looking statements are sometimes, but not always,
identified by their use of a date in the future or such words as
'anticipates', 'aims', 'due', 'could', 'may', 'will', 'would',
'should', 'expects', 'believes', 'intends', 'plans', 'projects',
'potential', 'reasonably possible', 'targets', 'goal', 'estimates'
or words with a similar meaning, and, in each case, their negative
or other variations or comparable terminology. Any forward-looking
statements in this document are based on Severn Trent's current
expectations and, by their very nature, forward-looking statements
are inherently unpredictable, speculative and involve risk and
uncertainty because they relate to events and depend on
circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future
performance and no assurances can be given that the forward-looking
statements in this document will be realised. There are a number of
factors, many of which are beyond Severn Trent's control that could
cause actual results, performance and developments to differ
materially from those expressed or implied by these forward-looking
statements. These factors include, but are not limited to: the
Principal Risks disclosed in our latest Annual Report and Accounts
(which have not been updated since the date of its publication);
changes in the economies and markets in which the group operates;
changes in the regulatory and competition frameworks in which the
group operates; the impact of legal or other proceedings against or
which affect the group; and changes in interest and exchange
rates.
All written or verbal forward-looking statements, made in this
document or made subsequently, which are attributable to Severn
Trent or any other member of the group or persons acting on their
behalf are expressly qualified in their entirety by the factors
referred to above. No assurances can be given that the
forward-looking statements in this document will be realised. This
document speaks as at the date of publication. Save as required by
applicable laws and regulations, Severn Trent does not intend to
update any forward-looking statements and does not undertake any
obligation to do so. Past performance of securities of Severn Trent
Plc cannot be relied upon as a guide to the future performance of
securities of Severn Trent Plc.
Nothing in this document should be regarded as a profits
forecast.
This document is not an offer to sell, exchange or transfer any
securities of Severn Trent Plc or any of its subsidiaries and is
not soliciting an offer to purchase, exchange or transfer such
securities in any jurisdiction. Securities may not be offered, sold
or transferred in the United States absent registration or an
applicable exemption from the registration requirements of the US
Securities Act of 1933 (as amended).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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February 11, 2020 11:08 ET (16:08 GMT)
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