CHESAPEAKE UTILITIES CORPORATION RECEIVES INAUGURAL INVESTMENT GRADE CREDIT RATING FROM FITCH

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

SOURCE Chesapeake Utilities Corporation