S&P ups PNG

S&P said it upgraded the ratings for PNG Cos. LLC and its senior secured notes to A from BBB+ and removed the ratings from CreditWatch, where they were placed with positive implications on Oct. 23, 2018.

“The upgrades reflect the higher-rated Aqua’s pending acquisition of PNG and its subsidiaries. We consider PNG to be a core subsidiary of Aqua with no significant insulation measures in place,” said S&P in a press release.

The outlook is stable.

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