Moody's ups UNS companies, revises outlooks

Moody's Investors Service said it upgraded the senior unsecured ratings of UNS Gas, Inc. and UNS Electric, Inc. to Baa2 from Baa3 and assigned a stable outlook.

In addition, the agency said it affirmed the ratings of UNS Energy Corp., the ultimate parent of UNS Gas and UNS Electric, and Tucson Electric Power Co. and changed their outlooks to positive from stable.

"The upgrade to the UNSG and UNSE ratings reflects recent improvements in the Arizona regulatory environment, including a favorable rate case settlement for UNSG, combined with strong credit metrics for both entities" said Moody's Analyst Mitchell Moss in a news release.

"UNS and TEP could be upgraded in the next 12 to18 months if TEP also achieves a supportive outcome in its upcoming rate case," Moss said.

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