Fitch affirms Phoenix Natural Gas

Fitch Rating said it affirmed Phoenix Natural Gas Ltd.’s long-term issuer default rating at BBB, senior secured rating at BBB+ and short-term issuer default rating at F3.

The outlook is stable.

Fitch said the affirmation and stable outlook reflect its expectation that Phoenix Natural Gas’ credit metrics will remain commensurate with our guidelines for the current rating during the price control from Jan. 1, 2017 until Dec. 31, 2022 for gas distribution network operators in Northern Ireland (GD17) as set by the regulator of the electricity, gas, water and sewerage industries in Northern Ireland, UReg.

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