Southwest Gas Holdings Inc. (SWX) has completed the sale of its remaining stake in higher-risk Centuri Holdings Inc. (Centuri), a utility infrastructure services company. We revised SWX?s business risk profile upward to excellent, aligning its business risk profile with that of its operating subsidiary Southwest Gas Corp. (SWG), reflecting SWX?s operations as a fully regulated natural gas business with stable and predictable cash flows. Also, SWX?s balance sheet has strengthened following debt repayment from the separation proceeds. We raised SWX?s issuer credit rating to ?BBB+? from ?BBB-? and revised the outlook to ?stable? from ?positive?. At the same time, we raised SWG?s issuer credit rating and issue level rating on senior unsecured notes to ?BBB+? from ?BBB?. We also revised
