Jennifer Bailey, Director of Treasury
Citizens Energy Group
Citizens Energy Group
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Citizens Energy Group, IN Debt Rating Outlook Revised To Positive On Healthy Fixed-Cost Coverage, Liquidity; 'A+' Rating Affirmed
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.
