Standard&Poor's Ratings Services' ratings on Connecticut Light&Power Co. (CL&P) reflect the consolidated credit profile of its parent, Northeast Utilities (NU). NU's business risk profile is excellent and reflects primarily the low-operating-risk nature of its regulated utility subsidiaries and the increasing contributions of its transmission investments. Unregulated operations are not material to the consolidated credit profile, and the company has no plans to expand them. The ratings on CL&P are on CreditWatch with positive implications, as are the ratings on NU, because NU plans to merge with NSTAR. The positive CreditWatch listing reflects the benefit to the company's credit quality that will result from the merger with the higher-rated NSTAR. Because NSTAR is also focused on electric
