Envestra’s Limited
(ASX:ENV) credit rating outlook has been revised from stable to positive by Standard & Poors (S&P).
The improvement is in line with its strategy of securing a BBB rating. The gas distribution group currently has a BBB- rating with S&P and a Baa2 rating with Moody’s Investor Services.
Envestra says it expects S&P to consider a lifting its status to a BBB rating in late March next year when the outcome of its dispute with the Australian Energy Regulator will be determined.
The gas distributer maintained its full year guidance of about $100 million.
Envestra generated a net profit of $73.9 million in the 2012 financial year.
