S&P upgrades Atmos Energy's rating

I should buy some of their stock. Not because they have been upgraded or anything like that. It is because I use Atmos as my gas company. They always say invest in things you use. Plus I don't think any utility company is ever going to go under. hmm now I am curious.

Standard and Poor's Ratings Services on Tuesday raised its rating on Atmos Energy Corp. and said the outlook for the company is "Stable" due to improved financial performance and rate case decisions that increased cash flow.

S&P lifted its corporate credit rating on Atmos to "BBB+" from "BBB," pushing the company's rating further up on the investment-grade rating scale.

Kenneth Farer, a credit analyst with S&P, said the company's favorable treatment in recent rate cases regarding weather-related risks over the past several years helped improve cash flow for the company. Other factors that helped boost the company's rating included management's success in integrating the TXU Gas Co. acquisition and in executing its overall business strategy.

"The outlook on Atmos is stable and reflects our expectation that the company will maintain its current level of financial performance," Farer said.

Shares of Atmos fell 18 cents to $23.46 on Tuesday. The 52-week share price range is between $19.68 and $29.29.