Caa1

In response to continuing regulatory investigations, financial reporting delays and audits, Moody’s cut the credit ratings of NUI Corp. to Caa1 from B3 and cut the ratings on subsidiary NUI Utilities’ to B1 from Ba3 Tuesday. The decision affects $360 million of NUI Utilities debt and $255 million of NUI Corp. debt. Moody’s said its outlook for both entities remains negative.