Summary: NiSource Finance Corp. Apr 05
- ID: 1834785
- April 2005
- Standard & Poors
The ratings on NiSource Finance Corp., a subsidiary of Merrillville, Ind.-based energy holding company NiSource Inc., engages in financing activities to raise funds for NiSource's and its subsidiaries' business operations. NiSource Finance's obligations are fully and unconditionally guaranteed by NiSource. The ratings on NiSource are based on the consolidated financial and business risk profiles of its family of companies, which includes Columbia Energy Group, Northern Indiana Public Service Co. (NIPSCO), and Bay State Gas Co. Through these subsidiaries, NiSource is involved in regulated gas distribution (43% of consolidated operating income), gas transmission (34%), and vertically integrated electric operations (23%). Although the operating subsidiaries' financial profiles are much stronger than that of NiSource, where the substantial acquisition-related debt is held, Standard...
Companies mentioned in this report are: NiSource Finance Corp.
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