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Alabama Gas Corp. Dec 11
Standard & Poors, Dec 2011
Abstract
The stable attributes of its regulated subsidiary, Alabama Gas Corp., which contributes 20% of consolidated cash flow; Long-lived oil and gas reserves that provide some flexibility in capital spending; A consistent track record of generating discretionary cash flow on a consolidated basis; and Solid credit ratios for the current ratings under our long-term pricing assumptions for crude oil and natural gas. The greater contribution of higher risk exploration and production activities to consolidated cash flow; A weaker outlook for natural gas prices over the intermediate term; and Periodic acquisitions to augment growth at the company's Energen Resources Corp. subsidiary. Alabama Gas Corp. (Alagasco) is a wholly owned subsidiary of Energen Corp. (BBB/Stable/--). In our ratings assessment of Energen, we employ...
Companies mentioned in this report are: Alabama Gas Corp.,Energen Corp.
Action: Review
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
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