Moody’s assigns East Ohio Gas notes A2

Moody’s Investors Service said it assigned a first-time A2 senior unsecured rating to the East Ohio Gas Co.’s (Dominion Energy Ohio) proposed notes as well as a first-time A2 issuer rating.

“Dominion Ohio’s credit is underpinned by the state’s unique LDC regulatory framework, which protects the company from commodity exposure and allows speedy recovery of most operating and capital costs,” said Ryan Wobbrock, vice president and senior credit officer, in a press release.

“The company’s straight-fixed-variable rate design and capital spending trackers should translate into a cash flow to debt ratio averaging 20% for the next three years,” added Wobbrock.

Dominion Ohio’s outlook is stable.

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