Moody's: Baltimore Gas outlook positive

Moody's Investors Service said it affirmed Baltimore Gas & Electric Co.'s Baa2 senior unsecured rating and Prime-2 short-term debt rating for commercial paper and changed the outlook to positive from stable.

The outlook change is driven by improvement in the company's cash flow metrics, recently implemented ring-fencing measures that provide credit insulation between it and its higher-risk parent and a lessening of regulatory risks in recent years, the agency said.

The rating, however, is currently restrained by the unpredictable regulatory environment in which the utility operates, Moody's said.

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