Fitch affirms OGE Energy

Fitch Ratings said it affirmed the issuer default ratings of OGE Energy Corp. at A, Oklahoma Gas & Electric Co. at A and Enogex LLC at BBB. Fitch affirmed the senior unsecured default ratings of OGE at A, Oklahoma Gas at A+ and Enogex at BBB.

Fitch also affirmed OGE and Oklahoma Gas' short-term issuer default ratings and commercial paper at F1.

The outlook is stable.

OGE's ratings are supported by upstream dividends from its subsidiaries Oklahoma Gas and Enogex, a mostly regulated utility business mix and prudent management of commodity exposure, the agency said.

Oklahoma Gas' rating is supported by its strong financial position and the low business risk of its integrated electric utility operations, the relative resiliency of the economy within its service territory and a constructive regulatory environment, the agency added.

Enogex's ratings are supported by strong cash flows generated by its existing portfolio of natural gas transportation, storage, gathering and processing businesses and moderate business risk, Fitch said.

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