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.
| With effect from 1st May 2008 |
Moody’s1 |
S&P |
Fitch |
| Lead Analysts |
Monica Merli
+44 (0)20 7772 5433 |
Mark Davidson
+44 (0)20 7176 6306 |
Andrew Steel
+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 plc |
A3 / --- |
BBB+ / --- |
A / --- |
| National Grid Gas plc |
A3 / P2 |
A- / A2 |
A / F2 |
| National Grid USA |
A3 / P2 |
BBB+ / A2 |
NR |
| Massachusetts Electric Co. |
A3 / P2 |
A- / A2 |
NR |
| The Narragansett Electric Co. |
A32 / --- |
A-3 / A2 |
NR |
| New England Power Co. |
A3 / P2 |
A- / A2 |
NR |
| Niagara Mohawk Power Corporation |
A3 / --- |
BBB+ / 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 |
A3 / --- |
A-3/ --- |
NR |
| National Grid Generation LLC |
Baa1 / --- |
A-3 / --- |
NR |
1Moody's ratings were all placed on Negative Outlook on 31st January 2008. All S&P and Fitch ratings remain on Stable Outlook
2Issuer Rating
3Corporate Credit Rating