Moody’s cuts Central Hudson Gas

Moody's Investors Service said it downgraded the ratings of Central Hudson Gas & Electric Corp., including its senior unsecured ratings to A3 from A2. The outlook is stable.

“CHG&E's financial ratios have deteriorated as a result of a combination of its large capital expenditure program combined with lower operating cash flow generation resulting from the passage of federal tax reform,” Gavin MacFarlane, vice president and senior credit officer at Moody’s, said in a news release.

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