Credit ratings

Senior unsecured / short term rating

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.

  Moody’s S&P Fitch
Lead Analysts Philip Cope
+44 20 7772 5229

Matan Benjamin
+44 20 7176 0106

Gustav B Rydevik
+44 20 7176 1282

Victoria Munarriz 
+44 20 3530 1419

Yeshvir Singh
+44 20 3530 1810

National Grid plc Baa2 / P2 BBB / A2 BBB / F2
National Grid Holdings One plc1 NR BBB+ / A2 NR
National Grid Electricity Transmission plc1 Baa1 / P2 BBB+ / A2 A- / F2
National Grid Electricity System Operator Ltd Baa12 / --- NR NR
National Grid Gas Holdings Limited1 NR BBB+ / --- A- / ---
National Grid Gas plc1 Baa1 / P2 BBB+ / A2 A- / F2
National Grid North America Inc. (formerly NGHI) Baa2 / P2 BBB / A2 NR
National Grid USA Baa2 / P2 BBB / A2 NR
Massachusetts Electric Co.1 Baa1 / P2 BBB+ / A2 NR
The Narragansett Electric Co.1 Baa1 / --- BBB+ / --- NR
New England Power Co.1 A3 / P2 BBB+ / A2 NR
Niagara Mohawk Power Corporation A3* / --- BBB+ / A2 NR
The Brooklyn Union Gas Company (KEDNY) Baa1* / --- BBB+ / --- A- / ---
KeySpan Gas East Corporation (KEDLI) A3* / --- BBB+ / --- A- / ---
Boston Gas Company1 Baa1 / --- BBB+ / --- NR
National Grid Generation LLC1 Baa22 / --- BBB+ / --- NR

1Company given Corporate Credit Rating by S&P

2Issuer Rating

* Negative outlook

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