Fitch affirms Southwest Gas

Fitch Ratings said it affirmed the long-term issuer default ratings of Southwest Gas Holdings, Inc. at BBB+ and Southwest Gas Corp. at A-.

The outlooks are stable.

“The rating reflects the low-risk business profile of SWX's primary subsidiary, SWG, a regulated natural gas local distribution company (LDC) contributing about 80% of EBITDA, tempered by the higher-risk construction services subsidiary, Centuri Construction Group (Centuri; not rated),” the agency said in a news release.

“The rating also considers SWG's balanced regulatory environments with moderate regulatory diversity and above average customer growth.”

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