Energen Corp.'s debt rating was downgraded by Moody's Investors Services this week.
In a related filing, Alabama Gas Corp. and Energen had their ratings outlooks changed to "stable" from "under review" by Moody's. Alabama Gas' debt rating was unchanged.
Energen's rating dropped to Baa3 from Baa2. Moody's scale is 21 notches ranging from the highest "Aaa" to the lowest "C."
Moody's said the downgrade of Energen's debt ratings Sept. 24 reflected the assignment of more weight to the parent company's increased exposure to oil and gas exploration and production operations, a news release said.
Via|Business Journal|by Jimmy DeButts
Energen|
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