S&P: AGL view now positive

Standard & Poor’s said it affirmed its ratings on AGL Resources Inc. and its subsidiaries, Atlanta Gas Light Co. and Nicor Gas Co., and revised the outlook to positive from stable.

“We are revising the outlook on AGLR and its subsidiaries to reflect the potential for higher ratings by up to one notch as a result of the company’s plan to merge with Southern Co. (A-/negative/A-2), as long as the transaction is funded in a manner that enables the merged company to achieve credit protection measures that are towards the middle of the ‘significant’ financial risk profile category using the medial volatility table,” said S&P credit analyst Dimitri Nikas in a news release.

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