The ratings on Questar Gas Co. (QGC) reflect the consolidated credit profile of parent Questar Corp. (Questar; --/--/A-1) The ratings on Questar reflect the company's 'excellent' business risk profile and 'intermediate' financial risk profile. Our rating on Questar reflects our view of the consolidated business and financial risk profiles of Questar and its subsidiaries, which consist of QGC (A/Stable/--; 23% of 2009 pro forma net income), Questar Pipeline Co. (QPC; A/Stable/--; 32%), and Wexpro Co. (not rated; 45%). Supportive regulation, a high-growth service area with a mostly residential customer base, low operating risks, and lack of competition characterize the utility's excellent business risk profile. The business risk profile also benefits from strong access to gas supply and storage and its
