Moody’s cuts South Jersey Gas

Moody's Investors Service said it downgraded South Jersey Gas Co.'s ratings, including its issuer rating to A3 from A2, senior secured rating to A1 from Aa3 and short-term rating for commercial paper to P-2 from P-1.

The outlook remains negative.

“South Jersey Gas' credit metrics have declined over the last few years primarily due to increasing debt, significant environmental remediation spending and more recently, the negative cash flow effects of federal tax reform,” Nana Hamilton, Moody’s assistant vice president, said in a news release.

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