Fitch revises SourceGas view to positive

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

The outlook was revised to positive from stable.

SourceGas conducts its regulated natural gas distribution businesses in four states: Arkansas, Colorado, Nebraska, and Wyoming. Regulated activities account for over 90% of gross margin. Commodity costs are a straight pass-through to customers via recovery mechanisms. Fixed service charges and base load represent over 60% of revenues and SGL has weather normalization in Arkansas, further reducing earnings and cash flow volatility, Fitch said.

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