NEW YORK (S&P Global Ratings) Nov. 1, 2016--S&P Global Ratings said today that NextEra Energy Inc.'s (A-/Stable/--) announcement that it has reached an agreement to acquire the remaining approximately 20% ownership interest in Oncor Electric Delivery Co. LLC is a favorable development but does not currently affect its ratings on NextEra and its subsidiaries. We had previously determined that the agreement to acquire the majority of Oncor, if approved by the Texas Public Utility Commission, would benefit NextEra's business risk profile enough to move it to the excellent category, although the company's non-utility operations would still contribute about one-third of its overall credit profile. We view this recent announcement as incrementally favorable from the standpoint of providing NextEra with more
