Iberdrola USA -- Moody's assigns Baa1 Issuer Rating to Iberdrola USA; upgrades IUSA's regulated subsidiaries by one notch

New York, January 30, 2014 -- Moody's Investors Service assigned a Baa1 issuer rating to Iberdrola USA (IUSA), a subsidiary of Iberdrola SA (Iberdrola or ISA; Baa1 negative). Moody's also upgraded the ratings of IUSA's three regulated subsidiaries: New York State Electric & Gas (NYSEG; including its senior unsecured rating to A3 from Baa1), Central Maine Power (CMP; including its senior unsecured rating to A3 from Baa1) and Rochester Gas & Electric (RGE; including its issuer rating to Baa1 from Baa2). Moody's also affirmed the P-2 Commercial Paper ratings of NYSEG and CMP. This rating action completes our review of NYSEG, CMP and RGE, initiated on November 8, 2013. The outlooks for NYSEG, CMP and RGE are stable. The outlooks for Iberdrola SA and IUSA are negative.

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