Ferrellgas Partners, LP (NYSE:FGP) had its risk rating changed by Citigroup (NYSE:C), citing their high leverage and level distribution.
Citigroup said, "We are changing our risk rating for FGP to High Risk (2H) from Speculative (2S) now that the partnership has improved its distribution coverage during the last two fiscal years. However, FGP has the highest leveraged balance sheet and has yet to increase the distribution."
The propane distributor closed at $26.16 Thursday, gaining $0.21, or 0.81 percent.
Ferrelgas has steadily move up in share price over the last 12 months.
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