S&P raises Integrys, debt

Standard & Poor's said it raised its corporate credit ratings on Integrys Energy Group Inc. and subsidiaries Peoples Energy Corp., Peoples Gas Light & Coke Co., and North Shore Gas Co. to A- from BBB+.

In addition, the agency said it raised the ratings on Integrys Energy Group's senior unsecured debt to BBB+ from BBB and on its unsecured hybrid junior subordinated notes to BBB from BBB-.

The outlook is stable.

"The rating actions are based on the tangible improvements that Integrys has made to its business risk profile and our expectations that the company will be able to maintain financial measures that are consistent with a 'significant' financial risk profile over the intermediate term," said S&P credit analyst Gabe Grosberg in a news release.

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