Credit Ratings

The issuer and security credit ratings held by the ScottishPower Group are as follows:

 Moody'sStandard & Poor’sFitch
CompanyIssuer
Rating
OutlookIssuer
Rating
OutlookIssuer
Rating
Outlook
Scottish Power LimitedBaa1StableBBB+/A-2StableBBB+/F2Stable
Scottish Power UK Holdings LimitedBaa1StableBBB+/A-2Stable  
Scottish Power UK plcBaa1/P-2StableBBB+/A-2StableBBB+/F2Stable
Scottish Power Energy Networks Holdings Limited  BBB+/A-2Stable  
SP Distribution plcBaa1StableBBB+/A-2Stable  
SP Manweb plcBaa1StableBBB+/A-2Stable  
SP Transmission plcBaa1StableBBB+/A-2Stable  
ScottishPower Generation LimitedBaa1StableBBB+/A-2Stable  
ScottishPower Energy Management LimitedBaa1StableBBB+/A-2Stable  
ScottishPower Energy Retail LimitedBaa1StableBBB+/A-2Stable  
ScottishPower Investments LimitedBaa1StableBBB+/A-2Stable  

Warning: this table was last updated on 14 March 2018. The ratings may be revised, suspended or withdrawn at any time by the relevant rating agency.

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