S&P: Laclede unchanged

Standard & Poor's said that Laclede Group Inc.'s (A/stable/A-1) announcement that it will sell its SM&P Utility Resources Inc. business unit for $85 million does not affect the ratings on the company or its subsidiary Laclede Gas Co.

While Laclede Group expects to use some sale proceeds to strengthen its balance sheet, the agency said it doesn't expect the level of debt reduction to be significant enough to change the company's ratings.

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