High-Grade Utilities

Credit awards 2002


What was one of the worst calls to make over the past year in your sector that you avoided?

By the very nature of the sector I cover, which enjoys huge levels of stability and predictability, credit downgrades – even with high levels of consolidation underway – should be gradual and modest, so bad calls should normally be avoided. I would rather turn it round and say that I was very glad to have predicted the RWE/Innogy link-up for some time. We know that many of our clients made some

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