Fitch lifts Southwest Gas bonds

Fitch Ratings said it upgraded Southwest Gas Corp.'s long-term issuer default rating to A- from BBB+ and its senior unsecured rating including industrial development revenue bonds to A from A-.

The outlook was revised to stable from positive.

Fitch said the upgrade reflects strong operational performance at the utility and the constructive outcome of Southwest Gas' recently concluded 2012 General Rate Case in Nevada, which will provide for modestly improved earnings and credit ratios this year.

The ratings also consider Southwest Gas' solid liquidity position, low leverage, minimal long-term debt maturities and the improving economic conditions in the company's service territories, particularly in Arizona, the agency said.

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