S&P affirms Integrys

Standard & Poor's said it affirmed its ratings on Integrys Energy Group, Inc. and subsidiaries, including its A- long-term and A-2 short-term corporate credit ratings.

In addition, the agency said it revised the outlook on the companies to negative from stable.

The outlook revision reflects pressure on the current ratings given the firm's liquidity needs for its non-regulated businesses and its weak financial measures, the agency said, adding that it assesses Integrys' liquidity adequacy based on stress case scenarios, which analyze the company's collateral exposure resulting from a hypothetical downgrade to speculative-grade and a commodity price stress scenario.

Recently, the agency said it identified that the company had adequate liquidity for a hypothetical downgrade to speculative-grade but did not have sufficient liquidity for a simultaneous commodity price stress.

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