Fitch affirms SourceGas

Fitch Ratings said it affirmed SourceGas, LLC's BB+ long-term issuer default rating and BBB- senior unsecured debt rating.

The outlook remains stable.

The ratings reflect the company's ownership structure as a wholly owned subsidiary of SourceGas Holdings LLC and its ultimate owners are General Electric and Alinda Investments LLC, Fitch said.

The company's capital structure is fairly leveraged, which the agency said it expects will be sustained throughout the forecast period, especially when incorporating the debt at SourceGas Holdings.

The ratings also consider the low-risk business profile of its regulated gas distribution utility operations in Colorado, Nebraska, Wyoming and Arkansas, Fitch said, along with its limited commodity exposure.

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