Fitch: NSTAR Electric notes A+

Fitch Ratings said it assigned an A+ rating to NSTAR Electric Co.'s $350 million debentures due 2027.

The debentures will rank pari passu with NSTAR Electric's other unsecured debt, Fitch said.

The company has a long-term issuer default rating and stable outlook.

The proceeds will be used to repay outstanding short-term debt and other general corporate purposes, Fitch said.

The ratings primarily reflect the low business risk and stable cash flows of the company's regulated electric transmission and distribution operations, the agency said.

The company has no commodity exposure and several cost recovery mechanisms that limit rate lag, Fitch said.

A growing share of earnings and cash flow is expected from transmission investments regulated by the Federal Energy Regulatory Commission, which Fitch said it considers among the most constructive U.S. regulatory jurisdictions.

NSTAR Electric's financial profile is very strong, benefiting from a conservative capital structure and robust cash flows, the agency said.

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