Fitch affirms AGL

Fitch Ratings said it affirmed Atlanta Gas Light Co., AGL Resources Inc. and AGL Capital Corp.'s issuer default ratings of A-.

AGL Capital also has an A- rating for its senior notes and F2 short-term issuer default rating.

AGL's rating reflects the low business risk of its core regulated gas distribution business, management's favorable track record and the strength and stability of its financial profile, according to Fitch.

As of March 31, the issuer's debt-to-EBITDA ratio was 3.1 times.

AGL Capital's rating incorporates its low business risk offset by its strong financial ties with AGL, including AGL's reliance on upstream cash flow from AGLC to service holding company level debt, the agency said.

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