S&P rates AGL Capital notes BBB+, affirms AGL Resources

Standard & Poor's said it affirmed the A- corporate credit rating on AGL Resources Inc. and assigned a BBB+ rating to AGL Capital Corp.'s $300 million of senior unsecured notes.

The outlook is stable.

"The ratings affirmation reflects the company's consistent strategy, a mainly unchanged business risk profile and stable financial risk profile," S&P analyst William Ferara said in a statement.

Ratings reflect the company's consolidated credit profile driven by an excellent business risk profile and a significant financial risk profile, the agency said.

The rating balances the strong cash flow generated by the regulated gas distribution operations with the more speculative cash flows contributed by wholesale and retail gas marketing operations, according to the agency.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.