Research Update: Citizens Energy Group, IN Debt Rating Outlook Revised To Positive On Healthy Fixed-Cost Coverage, Liquidity; 'A+' Rating Affirmed - S&P Global Ratings’ Credit Research

Research Update: Citizens Energy Group, IN Debt Rating Outlook Revised To Positive On Healthy Fixed-Cost Coverage, Liquidity; 'A+' Rating Affirmed

Research Update: Citizens Energy Group, IN Debt Rating Outlook Revised To Positive On Healthy Fixed-Cost Coverage, Liquidity; 'A+' Rating Affirmed - S&P Global Ratings’ Credit Research
Research Update: Citizens Energy Group, IN Debt Rating Outlook Revised To Positive On Healthy Fixed-Cost Coverage, Liquidity; 'A+' Rating Affirmed
Published Mar 20, 2025
6 pages (2854 words) — Published Mar 20, 2025
Price US$ 225.00  |  Buy this Report Now

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Abstract:

S&P Global Ratings revised the outlook to positive from stable and affirmed its 'A+' long-term rating on Indianapolis ' thermal energy system (doing business as Citizens Energy Group ) debt outstanding. At the same time, S&P Global Ratings assigned its 'A+' long-term rating to the thermal energy system's approximately $63 million series 2025A first-lien utility revenue bonds, issued by the Indiana Finance Authority . The outlook revision reflects healthy fixed-cost coverage (FCC) and liquidity in fiscal 2024 and our expectation that FCC will materially improve in the next several years as debt service declines. Net revenue of the thermal energy system secures the debt. It will use bond proceeds for system improvements and current refunding of the series 2013A and

  
Brief Excerpt:

...S&P Global Ratings revised the outlook to positive from stable and affirmed its 'A+' long-term rating on Indianapolis' thermal energy system (doing business as Citizens Energy Group) debt outstanding....

  
Report Type:

Research Update

Issuer
Indianapolis
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Citizens Energy Group, IN Debt Rating Outlook Revised To Positive On Healthy Fixed-Cost Coverage, Liquidity; 'A+' Rating Affirmed" Mar 20, 2025. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Citizens-Energy-Group-IN-Debt-Rating-Outlook-Revised-To-Positive-On-Healthy-Fixed-Cost-Coverage-Liquidity-A-Rating-Affirmed-3340763>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Citizens Energy Group, IN Debt Rating Outlook Revised To Positive On Healthy Fixed-Cost Coverage, Liquidity; 'A+' Rating Affirmed Mar 20, 2025. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Citizens-Energy-Group-IN-Debt-Rating-Outlook-Revised-To-Positive-On-Healthy-Fixed-Cost-Coverage-Liquidity-A-Rating-Affirmed-3340763>
  
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