Moody's cuts UGI International

Moody's Investors Service said it downgraded UGI International, LLC's corporate family rating to Ba2 from Ba1, probability of default rating to Ba2-PD from Ba1-PD and senior unsecured notes to Ba2 from Ba1.

"The downgrade of UGI International's ratings reflects increased business risks including those arising from exiting and unwinding the remaining energy marketing businesses, and operating in an inflationary environment with higher energy costs," commented Jonathan Teitel, a Moody's analyst, in a press release.

The outlook is stable.

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