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 Graham Taylor
+44 (0)20 7772 5206
Tania Tsoneva
+44 (0)20 7176 3489
Maria Fassakhova
+44 (0)20 3530 1746   
National Grid plc Baa1 / P2 BBB+ / A2 BBB+ / F2
National Grid Holdings One plc1 NR A- / A2 NR
National Grid Electricity Transmission plc1 A3 / P2 A- / A2 A / F2
National Grid Gas Holdings Limited1 NR A- / --- A / ---
National Grid Gas plc1 A3 / P2 A- / A2 A / F2
National Grid North America Inc. (formerly NGHI) Baa1 / P2 BBB+ / A2 NR
National Grid USA Baa1 / P2 BBB+ / A2 NR
Massachusetts Electric Co.1 A3 / P2 A- / A2 NR
The Narragansett Electric Co.1 A3 / --- A- / --- NR
New England Power Co.1 A3 / P2 A- / A2 NR
Niagara Mohawk Power Corporation A2 / --- A- / A2 NR
KeySpan Corporation Baa1 / --- A- / --- BBB+ / ---
The Brooklyn Union Gas Company (KEDNY) A2 / --- A- / --- A- / ---
KeySpan Gas East Corporation (KEDLI) A2 / --- A- / --- A- / ---
Boston Gas Company1 A3 / --- A- / --- NR
Colonial Gas Company1 A3 / --- A-/ --- NR
National Grid Generation LLC1 Baa12 / --- A-/ --- NR

1Company given Corporate Credit Rating by S&P

2Issuer Rating