Moody’s Downgrades Could Fuel a Fall in Utilities
Broader utilities have largely been falling every day since the beginning of 2018 with just a few exceptions. Overvaluation concerns, gradually rising interest rates, and tax reforms could mainly be blamed for utilities’ fall. To add to the woes, citing negative impacts of lower taxes, rating agency Moody’s downgraded 25 US regulated utilities on January 19, 2018.