S&P affirms Laclede Gas

Standard & Poor's said it affirmed the A corporate credit rating on Laclede Gas Co. and its parent Laclede Group Inc.

The affirmation incorporates expectations for financial performance that is appropriate for the rating, given the company's current business mix and favorable regulatory environment, according to the agency.

Ratings reflect an excellent business risk profile and an intermediate financial risk profile, S&P said. Reasonably supportive regulation, stable residential customer base, diverse gas supply sources, significant gas storage capacity and low operating risks also support ratings, the agency said.

Strengths are moderated by below-average customer growth and risks associated with unregulated activities, S&P said. High leverage and somewhat weak cash flow measures characterize the companies' intermediate financial profile, the agency added.

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