Moody’s assigns Baa2 to Unitil

Moody's Investors Service said it assigned a Baa2 issuer rating to Unitil Corp.

The agency also assigned ratings to Unitil's four subsidiaries, including Baa1 issuer ratings to Unitil Energy Systems, Inc., Fitchburg Gas and Electric Light Co. and Northern Utilities, Inc.; and a Baa2 issuer rating to Granite State Gas Transmission Inc.

The outlooks are stable.

"The first-time ratings take into account Unitil's low-risk business profile, credit supportive regulation, and solid financial performance, offset to some degree by its limited geographic diversity and relatively small size and scale," Moody’s vice president, senior analyst Jeff Cassella said in a news release.

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