|
|
 |
|
Viewing report
|
|
|
|
BULLETIN: NiSource's $107 Million Charge To Q4 Earnings Does Not Affect Credit Quality Sep 05
Standard & Poors, Sep 2005
Abstract
NEW YORK (Standard & Poor's) Sept. 21, 2005--Standard & Poor's Ratings Services said today that NiSource Inc.'s (BBB/Stable/--) announcement that it is taking a $107 million charge to its fourth quarter earnings does not affect the rating or outlook on the company or its subsidiaries. The write-off relates to the completion of a $1 billion debt issuance by the company's financing conduit, NiSource Finance Corp. Importantly, $93 million of the $107 million write-down is noncash and will not noticeably harm the company's $4.9 billion common equity cushion. Proceeds from the offering will be used in part to redeem NiSource Finance's $900 million notes due Nov. 15, 2005. The new securities, factoring in the impact of forward starting swaps put into...
Companies mentioned in this report are: NiSource Inc.,NiSource Finance Corp.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
|
|
|
|
