This is a question for all:
We see a range of impacts from global climate change around the world. Do your ratings take into account long-range environmental risks?
Our ratings reflect an entity’s capacity to pay debt in full and on time – environmental issues are not directly addressed in the rating unless this impacts either the revenue or expenditure capacity of the LRG. For example a natural disaster (eg severe flooding) may result in significant capital expenditure needs in the future or reduction in tax revenues.