DOVER,
Del., March 10, 2025 /PRNewswire/ -- Chesapeake
Utilities Corporation (NYSE: CPK) ("Chesapeake" or the "Company")
today announced that Fitch Ratings ("Fitch") has issued an
inaugural investment grade credit rating for the Company.
Fitch has assigned a Long-Term Issuer Default Rating ("IDR") of
BBB+ to the Company with a Stable outlook and an A- instrument
rating to Chesapeake's senior unsecured debt.
"The Company has a long track record of delivering top tier
returns for investors driven by significant capital investment
while at the same time prudently managing its balance sheet and
capital structure. The Company's future capital and earnings
guidance demonstrate our expectation for strong future
growth. Securing a rating was the next logical step in
expanding our access to financing. Our mix of strong regulated
businesses, continued commitment to a strong balance sheet, and
financial discipline supported an investment grade credit rating
from Fitch, which will enable us to raise capital more efficiently
as we execute on our future growth plans," said Beth Cooper, Executive Vice President, Chief
Financial Officer Treasurer and Assistant Corporate Secretary.
Fitch announced the first-time ratings for Chesapeake Utilities
Corporation, with additional details, in a press release issued on
March 10, 2025.
About Chesapeake Utilities Corporation
Chesapeake Utilities Corporation is a diversified energy
delivery company, listed on the New York Stock Exchange. Chesapeake
Utilities Corporation offers sustainable energy solutions through
its natural gas transmission and distribution, electricity
generation and distribution, propane gas distribution, mobile
compressed natural gas utility services and solutions, and other
businesses.
For more information, contact:
Beth W. Cooper
Executive Vice President, Chief Financial Officer, Treasurer and
Assistant Corporate Secretary
302.734.6022
Michael D. Galtman
Senior Vice President and Chief Accounting Officer
302.217.7036
Noah T. Russell
Assistant Vice President and Assistant Treasurer
302.387.9147
Lucia M. Dempsey
Head of Investor Relations
347.804.9067
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SOURCE Chesapeake Utilities Corporation
