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Rating Report

Eversource Energy

Fri 11 Oct, 2024 - 12:37 PM ET

The Long-Term Issuer Default Rating (IDR) and Outlook of Eversource Energy (Eversource) incorporate the completion of the offshore wind asset sale, coupled with equity issuances required to reduce debt, such that leverage returns below ֳ's 6.0x downgrade threshold by year-end (YE) 2024. ֳ' projection that funds from operations (FFO) leverage will remain below the negative sensitivity threshold over the forecast period is further supported by the assumed Aquarion Water sale and/or additional equity issuances. Failure to reduce leverage in a timely manner is likely to have negative rating consequences.