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Working with Investors and Managing Risk
Dialoguing with Investors |
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In the late 1980s, Hydro-Québec established an investor relations program, one of the first of its kind in Canada for a bond issuer. The purpose of the program is to create a climate of trust and ongoing dialogue with the major international financial markets.
We organize meetings with portfolio managers who are interested in the company to discuss financial results and any issues that may affect Hydro-Québec's development, such as regulatory matters, energy supply, labor relations and strategic planning.
Each year, U.S. and Canadian rating agencies assess the quality of our credit. Investors who purchase Hydro-Québec's bonds want to be sure they will get their capital back, with interest, at maturity.
More information about Hydro-Québec and its investor relations.
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Some Statistics |
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Investing activities
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In 2007, Hydro-Québec invested $3.6 billion in property, plant and equipment, intangible assets and the Energy Efficiency Plan, compared with $3.5 billion in 2006. Of this total, $2.0 billion was earmarked for development projects, $1.4 billion was used to maintain or improve the quality of assets, and $0.2 billion went to implementing the Energy Efficiency Plan. |
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The company's total assets for 2007 amounted to nearly $65 billion. |
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Financing activities
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Net issues of long-term debt in 2007 totaled $0.6 billion. |
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Gross borrowings, including receipts and disbursements related to the monetization of swaps and other financings, amounted to nearly $1.5 billion, versus $4.0 billion in 2006. |
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| Hydro-Québec's Credit Ratings |
| U.S. Agencies |
2004 |
2005 |
2006 |
2007 |
| Moody's |
A 1
positive |
A 1
positive
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Aa2
stable |
Aa2
stable |
| Fitch Ratings |
AA -
stable |
AA -
stable |
AA -
stable |
AA -
stable |
| Standard & Poor's |
A +
stable |
A +
stable |
A +
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A+ |
| Canadian Agency |
2004 |
2005 |
2006 |
2007 |
| DBRS |
A
positive |
A
stable |
A (high)
stable |
A (high)
stable |
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