SEMCO Energy Inc. Outlook Revised To Negative On Parent's Weaker Financial Measures - S&P Global Ratings’ Credit Research

SEMCO Energy Inc. Outlook Revised To Negative On Parent's Weaker Financial Measures

SEMCO Energy Inc. Outlook Revised To Negative On Parent's Weaker Financial Measures - S&P Global Ratings’ Credit Research
SEMCO Energy Inc. Outlook Revised To Negative On Parent's Weaker Financial Measures
Published Dec 17, 2015
3 pages (1363 words) — Published Dec 17, 2015
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About This Report

  
Abstract:

We expect financial measures for SEMCO Energy Inc.'s (SEMCO) parent AltaGas Ltd. to remain at the lower end of the "significant" financial risk profile category, reflecting low commodity prices and high leverage due to ongoing capital programs and recent acquisitions. We are revising our outlook on SEMCO to negative from stable. We are also affirming our ratings on SEMCO, including our 'BBB' long-term corporate credit rating. We are revising down our assessment of SEMCO's liquidity to "adequate" from "strong", reflecting our consolidated view of AltaGas' liquidity. The negative outlook reflects Standard&Poor's Ratings Services' baseline forecast that AltaGas' consolidated financial measures are at the lower end of the "significant" financial risk profile category and has little cushion to absorb

  
Brief Excerpt:

...+ We expect financial measures for SEMCO Energy Inc.'s (SEMCO) parent AltaGas Ltd. to remain at the lower end of the "significant" financial risk profile category, reflecting low commodity prices and high leverage due to ongoing capital programs and recent acquisitions. + We are revising our outlook on SEMCO to negative from stable. We are also affirming our ratings on SEMCO, including our '###' long-term corporate credit rating. + We are revising down our assessment of SEMCO's liquidity to "adequate" from "strong", reflecting our consolidated view of AltaGas' liquidity. + The negative outlook reflects Standard & Poor's Ratings Services' baseline forecast that AltaGas' consolidated financial measures are at the lower end of the "significant" financial risk profile category and has little cushion to absorb weaker-than-expected cash flows over the next two years. NEW YORK (Standard & Poor's) Dec. 17, 2015--Standard & Poor's Ratings Services said today it revised its rating outlook on SEMCO...

  
Report Type:

Ratings Action

Ticker
SEN
Issuer
SEMCO Energy Inc.
GICS
Gas Utilities (55102010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "SEMCO Energy Inc. Outlook Revised To Negative On Parent's Weaker Financial Measures" Dec 17, 2015. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/SEMCO-Energy-Inc-Outlook-Revised-To-Negative-On-Parent-s-Weaker-Financial-Measures-1553960>
  
APA:
S&P Global Ratings’ Credit Research. (). SEMCO Energy Inc. Outlook Revised To Negative On Parent's Weaker Financial Measures Dec 17, 2015. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/SEMCO-Energy-Inc-Outlook-Revised-To-Negative-On-Parent-s-Weaker-Financial-Measures-1553960>
  
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