S&P affirms WGL

Standard & Poor's said it affirmed the AA- long-term and A-1 short-term corporate credit ratings on WGL Holdings Inc. and subsidiary Washington Gas Light Co., following an annual review.

The outlook is stable.

The affirmation incorporates WGL's stable cash flows derived from Washington Gas and its high consolidated cash contribution, partially offset by WGL's unregulated businesses, most notably Washington Gas Energy Services Inc.'s (unrated) retail energy marketing business, according to the agency.

Ratings reflect the consolidated credit profile of the company's regulated and unregulated operating units, the agency said.

"The stable outlook on WGL and Washington Gas reflects the expectation of solid consolidated financial ratios, strategy maintenance, continued regulatory support and strong operations at Washington Gas," S&P analyst William Ferara said in a statement.

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