S&P affirms Vectren

Standard & Poor's said it affirmed the A- corporate credit rating on Vectren Corp. and affirmed ratings on subsidiaries Vectren Utility Holdings Inc. (A-/stable/A-2), Indiana Gas Co. Inc. (A-/stable) and Southern Indiana Gas & Electric Co. (A-/stable).

The affirmation reflects expectation of adequate and timely rate relief, low operating risk and expectations of some improvement to the company's financial profile, which is somewhat weak for the rating, according to the agency.

Ratings are based on the company's consolidated credit profile and reflect its excellent business risk profile and intermediate financial risk profile, the agency said.

Vectren's investment in higher risk, non-regulated operations and modest growth in its service territories somewhat temper the company's strengths, the agency noted.

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