S&P affirms Alabama Gas, Energen

Standard & Poor's said it affirmed the BBB+ corporate credit ratings on Alabama Gas Corp. and parent Energen Corp.

The rating on Energen reflects the consolidated credit profile of the company and its subsidiaries, Energen Resources Corp. and Alabama Gas, according to the agency.

The outlook is stable.

S&P said Energen's satisfactory business risk profile is a combination of Energen Resources' weak business profile along with Alagasco's strong business profile, which reflects material exposure to the competitive and cyclical sector and an increasingly pressured cost structure.

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