...- Recent regulatory and legislative developments in Connecticut have been inconsistent with our view of the state's regulatory framework for investor-owned utilities. These include the passing and signing of Senate Bill 7, which allows for Connecticut's Public Utilities Regulatory Authority (PURA) to have discretion regarding the consistent implementation of decoupling. Furthermore, PURA's recent less-than-credit-supportive rate orders could indicate that Connecticut's regulatory construct may be becoming less credit-supportive for investor-owned utilities. - As such, we revised our outlooks for SJW Group (SJWG) and its Connecticut-based subsidiaries Connecticut Water Service Inc. (CTWS), and The Connecticut Water Co. to negative from stable and affirmed our ratings on SJW and the subsidiaries. At the same time, we affirmed our ratings on SJWG's California-based subsidiary San Jose Water Co. (SJWC). The outlook remains stable. - The negative outlooks for SJWG, CTWS, and The Connecticut...
