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Article: Fitch Affirms Central Hudson Gas & Electric's IDR at 'A-'; Outlook Stable.
- Article from:
- Business Wire
- Article date:
- October 30, 2009
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NEW YORK -- Fitch Ratings affirms the outstanding ratings for Central Hudson Gas & Electric (CHG&E) as follows:
--Issuer Default Rating (IDR) at 'A-';
--Senior unsecured at 'A';
--Preferred stock at 'A-';
--Short-term at 'F1'.
The Rating Outlook is Stable.
The ratings reflect CHG&E's low business risk profile, due in large part to very limited commodity price risk exposure, and improving credit metrics as the result of a recently implemented base rate increase and rate decoupling mechanism. Commodity price exposure is mitigated by a monthly fuel adjustment clause that allows the full pass through of all supply costs ...