S&P: EnerCare view stable

Standard & Poor's revised its outlook on EnerCare Inc. and subsidiary EnerCare Solutions Inc. to stable from negative.

At the same time, S&P affirmed its ratings on EnerCare, including its BBB+ long-term corporate credit and senior unsecured debt ratings on the company.

“The outlook revision reflects our view that the company has effectively integrated Ontario Home Services, which EnerCare acquired in November 2014, returning its credit measures to levels before the acquisition,” said S&P credit analyst Alessio Di Francesco, in a news release.

In addition, S&P believes the company’s operating environment has improved, with competitive pressure abating due in part to better customer awareness of competitors’ aggressive tactics. The agency believe this has contributed to a noticeable improvement in attrition recently, as the company posted positive net growth in its water heater portfolio for the first time in eight years.

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