We expect Connecticut Light&Power Co.'s (CL&P) financial measures will modestly weaken, primarily reflecting rising capital spending. As such, we revised our outlook on the company to stable from positive. We affirmed all ratings on the company, including our 'A' issuer credit rating, 'A+' rating on the company's first mortgage bonds, and 'BBB+' rating on the company's preferred stock. The stable outlook on CL&P reflects our expectation for the company to effectively manage its regulatory risk and maintain funds from operations (FFO) to debt that averages about 19%-20% over the next 24 months. We will continue to actively monitor regulatory developments in Connecticut, including CL&P's sister company Aquarion Co.'s, appeal of its rate case order and any direct or
