CENTENNIAL (S&P Global Ratings) March 20, 2020--S&P Global Ratings raised its long-term rating and underlying rating (SPUR) to 'A+' from 'A' on Indianapolis, Ind.'s thermal energy system's first-lien revenue bonds outstanding. The thermal system does business as Citizens Energy Group, or Citizens. The outlook is stable. "The raised rating reflects the application of our 'U.S. Municipal Retail Electric And Gas Utilities' criteria, published Sept. 27, 2018, on RatingsDirect, as well as the utility's declining leverage, said S&P Global Ratings credit analyst Andrew Bredeson. "The rating further reflects our expectation that the utility's customer base will generally remain stable and that its customer retention will be supported by the utility's strong market position and competitive rates," Mr. Bredeson added. The thermal
