Summary: NiSource Finance Corp. Apr 05

Standard & Poors, April 2005

Abstract
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.
Action: Review

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

NiSource Finance Corp.

Customers who bought this item also bought

• United States Battery Market for Military/Aerospace Applications
• World Micro Fuel Cell Market for Military Man-portable Equipment
• United States Battery Markets for Military/Aerospace Applications
• Environment & Planning A
• Independent thinking - The Public sector ICT market in Scotland
• Argentina Infrastructure Report Q2 2012
• Qatar Infrastructure Report Q3 2010
• Military Microgrids Market Potential
• Ghana Infrastructure Report Q1 2012
• Malaysia Infrastructure Report Q3 2010