Summary: Indianapolis, Indiana; Gas - S&P Global Ratings’ Credit Research

Summary: Indianapolis, Indiana; Gas

Summary: Indianapolis, Indiana; Gas - S&P Global Ratings’ Credit Research
Summary: Indianapolis, Indiana; Gas
Published Mar 24, 2022
5 pages (2290 words) — Published Mar 24, 2022
Price US$ 225.00  |  Buy this Report Now

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Abstract:

S&P Global Ratings affirmed its 'AA' long-term rating on Indianapolis, Ind.'s natural gas utility revenue refunding debt outstanding. Net revenue of the natural gas utility secures the debt. The outlook is stable. Indianapolis' natural gas utility distribution system (GUDS, or the natural gas utility) is one arm of the city's utility system, which does business as Citizens Energy Group (Citizens). At the end of fiscal year 2021, GUDS had approximately $153 million in debt principal outstanding. The debt matures in 2030. GUDS' financial performance has been robust in recent years. In fiscal year 2021, fixed-cost coverage (FCC) was 3.35x and liquidity was 284 days when including undrawn amounts on committed lines of credit. Moreover, the natural gas utility's debt is

  
Brief Excerpt:

...S&P Global Ratings affirmed its '##' long-term rating on Indianapolis, Ind.'s natural gas utility revenue refunding debt outstanding. Net revenue of the natural gas utility secures the debt. The outlook is stable. Indianapolis' natural gas utility distribution system (GUDS, or the natural gas utility) is one arm of the city's utility system, which does business as Citizens Energy Group (Citizens). At the end of fiscal year 2021, GUDS had approximately $153 million in debt principal outstanding. The debt matures in 2030....

  
Report Type:

Summary

Issuer
Indianapolis
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Indianapolis, Indiana; Gas" Mar 24, 2022. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Indianapolis-Indiana-Gas-2814308>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Indianapolis, Indiana; Gas Mar 24, 2022. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Indianapolis-Indiana-Gas-2814308>
  
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