Fitch assigns Dominion Energy Ohio, notes A-, A

Fitch Ratings said it assigned a first-time long-term issuer default rating of A- to the East Ohio Gas Co. (Dominion Energy Ohio) and an A rating to the company’s senior unsecured debt, including its planned multi-tranche issuance.

“DEO’s ratings reflect the relatively predictable earnings and cash flow as a local gas distribution company (LDC) with constructive regulation. The ratings also consider DEO’s position as an indirect subsidiary of Dominion Energy, Inc. (DEI) from which DEO benefits from the resources and liquidity of its parent. In November 2019, DEO became a separately financed DEI subsidiary after DEI undertook an internal restructuring of Dominion Energy Gas Holdings (DEGH) under which DEO had previously been housed,” Fitch said in a press release.

The outlook is stable.

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