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Enbridge Gas Distribution Inc. Dec 11
Standard & Poors, December 2011
Low-risk regulated cash flows Monopoly gas network business No commodity risk Exposure to weather-induced variability in gas demand and cash flows The ratings on Toronto-based Enbridge Gas Distribution Inc. (Enbridge Gas or EGD) reflect Standard & Poor's Ratings Services' view of the utility's monopoly position, consistent profitability, and lack of exposure to commodity risk. We believe cash-flow variability due to weather offsets the strengths modestly. In our view, supporting Enbridge Gas' excellent business risk profile is one of the most attractive gas utility franchises in Canada, which itself is characterized by favorable growth prospects, a high population density, and a fair regulatory system. The company's Ontario-based service franchise covers the Toronto region, as well as the Niagara Peninsula and the...
Companies mentioned in this report are: Enbridge Gas Distribution Inc.,Enbridge Inc.
Action: Outlook Revised
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Enbridge Gas Distribution Inc.,Enbridge Inc.