National Grid's Treasury team maintain frequent contact with Moody's Investor Services (Moody's), Standard and Poor's Rating Services (S&P) and Fitch Ratings and ensure that the agencies are kept aware of significant developments in the Group.
Senior members of National Grid's management team also meet with these agencies formally, usually at least once in each fiscal year, to discuss the anticipated performance of the Group.
| As at November 20091 |
Moody’s |
S&P |
Fitch |
| Lead Analysts |
Neil Griffiths-Lambeth
+44 (0)20 7772 5543 |
Mark Davidson
+44 (0)20 7176 6306 |
Anton Krawchenko
+44 (0)20 7417 4353 |
| National Grid plc |
Baa1 / P2 |
BBB+ / A2 |
BBB+ / F2 |
| National Grid Holdings One plc |
NR |
BBB+ / A2 |
NR |
| National Grid Electricity Transmission plc |
A3 / P2 |
A- / A2 |
A / F2 |
| National Grid Gas Holdings Limited |
A3 / --- |
A-4 / --- |
A / --- |
| National Grid Gas plc2 |
A3 / P2 |
A- / A2 |
A / F2 |
| National Grid USA |
A3 / P2 |
BBB+ / A2 |
NR |
| Massachusetts Electric Co. |
A33 / P2 |
A- / A2 |
NR |
| The Narragansett Electric Co. |
A33 / --- |
A-4 / A2 |
NR |
| New England Power Co. |
A3 / P2 |
A- / A2 |
NR |
| Niagara Mohawk Power Corporation |
A3 / --- |
A- / A2 |
NR |
| KeySpan Corporation |
Baa1 / P2 |
A- / A2 |
A- / --- |
| The Brooklyn Union Gas Company |
NR |
A / --- |
A+ / --- |
| KeySpan Gas East Corporation |
A3 / --- |
A / --- |
A / --- |
| Boston Gas Company |
Baa1 / --- |
A- / --- |
NR |
| Colonial Gas Company |
A33 / --- |
A-4/ --- |
NR |
| National Grid Generation LLC |
Baa13 / --- |
A-4 / --- |
NR |
1All ratings have a Stable Outlook
2National Grid Gas plc is also rated "A/Stable" by the Japan Credit Rating Agency, Ltd (JCR). Our lead analyst at JCR is Mr Satoshi Nakagawa who can be contacted on +81(0)3 3544 7448
3Issuer Rating
4Corporate Credit Rating