Moody's upgrades UIL, subsidiaries

Moody's Investors Service said it upgraded the ratings of UIL Holdings Corp. (including its senior unsecured rating to Baa2 from Baa3) and its operating subsidiaries United Illuminating Co. (including its issuer rating to Baa1 from Baa2), Connecticut Natural Gas Corp. (including its senior unsecured to A3 from Baa1), Southern Connecticut Gas (including its issuer rating to Baa1 from Baa2) and Berkshire Gas Co. (including its issuer rating to Baa1 from Baa2).

The outlooks are stable.

"The upgrades of UIL and subsidiaries reflect regulatory provisions in Connecticut and Massachusetts that are consistent with our view of a generally improving regulatory environment for US electric and gas utilities," Moody's assistant vice president Ryan Wobbrock said in a news release.

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