Chesapeake Utilities Corporation announced on March 10, 2025, that Fitch Ratings has issued an inaugural investment-grade credit rating for the company. Fitch assigned a Long-Term Issuer Default Rating (IDR) of BBB+ with a Stable outlook to Chesapeake Utilities.
Additionally, Fitch assigned an A- instrument rating to Chesapeake's senior unsecured debt. This achievement marks a significant milestone for the company, acknowledging its prudent balance sheet management and strong growth prospects.
Beth Cooper, Executive Vice President, Chief Financial Officer, Treasurer, and Assistant Corporate Secretary, stated that securing this rating is a logical step in expanding access to financing. The investment-grade rating will enable Chesapeake Utilities to raise capital more efficiently as it executes on its future growth plans and capital investment program.
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