Fitch: Laclede negative

Fitch said it placed the ratings of the Laclede Group, Inc. on rating watch negative following the announcement of a definitive agreement to acquire the assets of Missouri Gas Energy and New England Gas Co. from Southern Union Co. for approximately $1.04 billion.

In addition, the agency said it affirmed the ratings of Laclede Gas Co. with a stable outlook.

The agency said the negative watch reflects the expectation for increased leverage at the parent, which will pressure credit metrics at their current rating category.

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