S&P Global Ratings on Sept. 17 raised Otter Tail Power Co.'s long-term issuer credit ratings and its senior unsecured debt to BBB+ from BBB and removed them from "under criteria observation." The ratings outlook is stable.
The one-notch upgrade reflects the rating agency's view that structural protections are sufficient to insulate the company's ratings from the group credit profile of its parent Otter Tail Corp., according to a research note.
S&P Global Ratings affirmed Otter Tail's issuer credit rating to BBB and revised the outlook back to stable.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.
