Spire Inc.: Update to credit analysis
Our credit view of Spire reflects its credit supportive regulatory environments in Missouri and Alabama, constrained by its limited financial flexibility.Spire is the holding company for Spire Missouri Inc. (Spire Missouri), Spire Alabama Inc. (Spire Alabama), other gas utilities, and gas-related businesses. The company's segments are: Gas Utility, which includes Spire Missouri, a natural gas distribution utility system in Missouri, and Spire Alabama, a public utility engaged in the purchase, retail distribution and sale of natural gas principally in central and northern Alabama; and Gas Marketing, which includes the company's subsidiary, Spire Marketing Inc. that is engaged in the marketing of natural gas and providing energy services to both on-system utility transportation customers and customers outside of the service areas.
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