Fitch affirms Southern and Scotland Gas Networks at 'BBB'
Source - SMW
Fitch Ratings has affirmed Southern Gas Networks plc's and Scotland Gas Networks plc's long-term issuer default ratings at 'BBB', senior unsecured ratings at 'BBB+' and short-term IDRs at 'F3'.
The outlooks on the long-term IDRs are stable.
Fitch says the affirmation reflects Southern Gas Networks plc's and Scotland Gas Networks plc's strong regulatory performance in the first three years of the new price control (RIIO-GD1, eight-year period from 31 March 2013). The ratings are also supported by low business risk stemming from a supportive and transparent UK regulatory framework.