Fitch affirms UGI Utilities

Fitch Ratings said it affirmed the issuer default rating of UGI Utilities, Inc. at A-.

The outlook is stable.

The ratings reflect the company's predictable cash flows of its regulated gas and electric operations, effective energy cost recovery mechanisms and solid credit metrics, Fitch said.

Although its affiliates are engaged in higher risk businesses, its parent company, UGI Corp., has no holding company debt, the agency said.

The company's credit metrics have remained strong despite the slow economy and are expected to continue to be consistent with its rating category throughout the forecast period, Fitch added.

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