OREANDA-NEWS. Fitch Ratings has published the U.S. Utilities, Power, and Gas (UPG) First-Quarter 2016 Ratings Dashboard. This report highlights the rating actions taken in the UPG universe during the first quarter of 2016.

Rating activity within the U.S. Utilities, Power and Gas (UPG) group during the quarter included 27 affirmations, six upgrades, one downgrade, along with two positive and two negative revisions to Rating Outlooks.
Positive rating actions were driven by individual company specific factors while continued merger activity was a catalyst for the negative rating actions. It is notable that a constructive regulatory environment in Michigan led to an upgrade of both of the Michigan utilities under Fitch's coverage.

First-quarter issuance activity for companies under Fitch's coverage finished strong following a tepid start, totaled $7.4 billion, and reflected the sector's robust access to capital markets and waning concerns over rising interest rates.

Fitch has also published an Excel worksheet titled ' First-Quarter Rating Action Summary Report ' that provides a list of rating actions, issuance activity, Fitch's published research, and sector rating trends during the fourth quarter.