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Citizens Energy Group

Issuer Type: Combined Utility

Bond Ratings

1 of 6

CWA Revenue Bonds

Moody's
Aa3
S&P
AA
Fitch
A+

Water Revenue Bonds

Moody's
Aa3
S&P
AA
Fitch
A+

GUDS Revenue Bonds

Moody's
Aa3
S&P
AA
Fitch
AA-

Thermal Energy System Revenue Bonds

S&P
A
Fitch
A

Citizens Wastewater of Westfield, Series 2019A

S&P
AA-

Citizens Water of Westfield, Series 2019A

S&P
AA-
John Brehm

On behalf of Citizens Energy Group, I would like to welcome you to our new investor relations website. We appreciate your interest and investment in bonds issued by the Company, as it allows us to make critical investments in public infrastructure throughout the region. We are committed to maintaining our strong bond ratings, and we are also committed to being as transparent as possible with the investor community and public at large.

I hope you find this website useful as you seek to better understand the credit fundamentals of Citizens Energy Group. Please do not hesitate to contact our office with suggestions for how we can be doing better. Thanks again for your interest in our bond program.

John Brehm, Senior Vice President & Chief Financial Officer

News & Highlights

March 23, 2020

News
Citizens Seeking to Reconnect All Water and Natural Gas Customers

Customers Previously Disconnected Asked to Contact Utility Immediately

INDIANAPOLIS – Citizens Energy Group is asking customers whose utility services have been turned off for non-payment to call the utility at **(317) 924-3311 **to have their service reconnected. Citizens will work to reconnect customers as soon as possible.

“Because of the importance of hand washing and hygiene during the COVID-19 emergency, Citizens urges all customers without water and/or natural gas service to call us immediately,” said Jeffrey Harrison, President & CEO of Citizens Energy Group. “During this serious public health emergency, Citizens is working to do everything it can to help customers in need.”

Citizens will accept whatever payment customers can make to reconnect their service and will use assistance from various sources to help with the outstanding balances until those funds are depleted. Because of the nature of this crisis, preference for reconnection will be given to water and wastewater customers first, then natural gas customers.

Citizens also is suspending utility disconnections during the COVID-19 public health emergency, in accordance with an executive order issued on March 19 by Indiana Governor Eric Holcomb. The utility had previously announced suspension of all utility disconnections through April 15. Citizens is waiving deposits, late fees and reconnection fees during this period as well.

It may take some time to turn services back on, but Citizens employees will work as safely and quickly as possible. For the safety of our customers and employees, Citizens asks that customers not approach our employees while they are performing this work. We request that customers follow social distancing recommendations issued by the U.S. Centers for Disease Control and Prevention that call for maintaining a 6-foot distance between people.

Citizens urges customers to utilize the various self-service functions available on its website at www.CitizensEnergyGroup.com, given the expected increase in call volume to its Contact Center. Citizens also encourages anyone who would like to help provide financial assistance to customers in need to donate via Warm Heart Warm Home.

“We appreciate the patience of our customers as we process these reconnect orders. Citizens stands ready to continue providing safe, reliable utility service to the community as it endures the hardships of the COVID-19 emergency,” said Harrison.

About Citizens Energy Group

Citizens Energy Group provides safe and reliable utility services to about 800,000 people in the Indianapolis area. Citizens operates its utilities only for the benefit of customers and the community.

Media Contact Information

Dan Considine
(C) 317-519-1515
media@citizensenergygroup.com

Read Article

March 17, 2020

News
Citizens Continues to Provide Safe and Reliable Utility Services

Service Interruptions Due to COVID-19 Not Expected

INDIANAPOLIS – Citizens Energy Group is well prepared to ensure its vital utility services are not interrupted during the COVID-19 emergency.

Water from Citizens continues to be safe for our customers. According to the United States Environmental Protection Agency (U.S. EPA) and the Centers for Disease Control and Prevention (CDC), COVID-19 has not been detected in drinking water. Conventional water treatment methods that use filtration and disinfection, such as those used at Citizens, should remove or inactivate the virus that causes COVID-19.

Citizens operates multiple water and wastewater treatment facilities serving Indianapolis and the surrounding area. These facilities continuously meet or exceed U.S. EPA requirements and are well equipped to continue providing safe, reliable service to customers.

As always, Citizens urges customers to call (317) 924-3311 if they suspect a natural gas leak at their home or business. Citizens personnel are prepared to immediately come on site to inspect for a leak and will follow special procedures during their visit to ensure the health and safety of customers.

Citizens has suspended utility service disconnections until April 15. All customers are urged to do their best to stay current on their utility bills. Customers who need assistance should call Citizens at (317) 924-3311. Representatives will work with individual customers to determine whether they qualify for assistance and/or set up flexible payment arrangements.

For answers to frequently asked questions and for updates as they arise, visit www.citizensenergygroup.com/COVID-19.   

About Citizens Energy Group

Citizens Energy Group provides safe and reliable utility services to about 800,000 people in the Indianapolis area. Citizens operates its utilities only for the benefit of customers and the community.

Media Contact Information

Dan Considine
(C) 317-519-1515
media@citizensenergygroup.com

Read Article

September 6, 2019

Press Release
Fitch Upgrades Indiana Finance Auth CWA Project First Lien Wastewater Revs to 'A+'; Outlook Stable

Fitch Ratings assigns an 'A+' rating to the following Indiana Finance Authority (IFA) bonds issued on behalf of CWA Authority, IN (CWA):

--Approximately $40.5 million first lien wastewater utility revenue bonds, series 2019A (CWA Authority Project) (Green Bonds).

The 2019A bonds are being sold to fund various CWA wastewater system (the system) capital improvements, repay draws under a line of credit, fund a debt service reserve surety policy and pay costs of issuance. The bonds are expected to sell via negotiation the week of Sept. 23, 2019.

Fitch also upgrades to 'A+' from 'A' the rating on the following outstanding IFA bonds issued on behalf of CWA:

--$559.8 million in outstanding first lien wastewater utility revenue bonds, series 2014A 2015A and 2016A (CWA Authority Project);
--$41.9 million in outstanding second lien wastewater utility refunding revenue bonds, series 2016B (CWA Authority Project).

The Rating Outlook is Stable.

Read Press Release