S&P affirms Epcor

Standard & Poor's said it affirmed the BBB+ long-term corporate credit and senior unsecured debt ratings on Epcor Utilities Inc.

The outlook is stable.

Ratings reflect stable cash flows from the company's regulated monopoly electricity and water distribution businesses, good operating performance and an intermediate financial risk profile, the agency said.

Partly offsetting these strengths are the company's increasing exposure to construction and merchant risk and involvement in competitive electricity and natural gas markets, S&P said.

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