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Moody's gives UNS loan Baa3
Moody's Investors Service said it assigned a Baa3 rating to the shared senior unsecured $60 million multi-year credit facility of UNS Electric, Inc. and UNS Gas, Inc.
The facility is guaranteed by UNS Electric's and UNS Gas' intermediate parent holding company, UniSource Energy Services, the agency said, noting that UniSource Energy is a subsidiary of UniSource Energy, Inc. (Ba1 senior secured).
The outlook is stable.
The Baa3 rating assigned to the UNS Electric/UNS Gas credit facility reflects the relatively stable and predictable nature of the regulated cash flows produced by these electric and gas utilities as well as the historically strong financial profile of the combined entities, which provide the basis for the UES guarantee, the agency said.
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