A recent credit rating downgrade for Eversource Energy’s Connecticut subsidiaries ultimately will be borne by its customers, the utility said Tuesday. “The negative impact of these credit rating downgrades will be long-lasting,

Eversource and natural gas customers could see an increase in their bills down the line because of a change in the companies’ credit ratings. Like your credit score, banks look at credit ratings to determine how likely a company will pay them back.

The credit rating downgrade for Eversource by Standard & Poor's comes after the rating agency took similar action against two CT gas companies

S&P Global Ratings lowered the long-term issuer credit on the state's largest utility, Eversource, from A- to BBB+.

Utility companies in Connecticut are warning customers that bills are likely to go up again. Eversource, Connecticut Natural Gas (CNG), and Southern Connecticut Gas (SCG) all had their credit ratings lowered in the last week from a rating in the A range down to a BBB+.

This latest ratings action is independent confirmation that the Connecticut regulatory environment is harming the ability of electric, water and gas companies to hold financing costs down for

S&P announced on Monday that Eversource’s credit rating has been downgraded. Eversource said it is bad news for customers.