Newfoundland Power Inc.

Newfoundland Power Inc.

June 08, 2005 15:09 ET

Moody's Rates Newfoundland Power's First Mortgage Bonds

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(CCNMatthews - June 8, 2005) - Newfoundland Power Inc. (TSX:FTS) announced today that Moody's Investor Services has assigned an initial rating of 'Baa1', with a stable outlook, to the Company's first mortgage bonds. Newfoundland Power's first mortgage bonds are rated 'A' by the Dominion Bond Rating Service and 'A-' by Standard and Poor's.

"This investment grade rating will help ensure continued access to capital markets on a cost effective basis," said Karl Smith, President and Chief Executive Officer, Newfoundland Power Inc.

With a customer base of over 225,000 accounts, Newfoundland Power is dedicated to providing the highest level of customer service and reliability of electricity in the most cost-efficient manner possible. For more information on Newfoundland Power's programs, services and community partnerships, please visit

All the common shares of Newfoundland Power are owned by Fortis Inc., a diversified, international electric utility holding company with assets of approximately $4.0 billion and annual revenues of approximately $1.2 billion. The Common Shares, Series C First Preference Shares and Series E First Preference Shares of Fortis Inc. are traded on the Toronto Stock Exchange under the symbols FTS, FTS.PR.C and FTS.PR.E, respectively. Fortis Inc. information can be accessed at

Contact Information

  • Newfoundland Power Inc.
    Lisa Hutchens
    Vice President, Finance and Chief Financial Officer
    (709) 737-5618