- Language: English
- Published: November 2011
Summary: NiSource Finance Corp. Dec 02
- ID: 1835636
- December 2002
- Standard & Poors
The ratings of NiSource Finance Corp. reflect those of energy holding company NiSource Inc. NiSource Finance was created to finance the acquisition of Columbia Energy Group (CEG), which closed on Nov. 1, 2000. NiSource guarantees NiSource Finance's borrowings. Through its subsidiaries, NiSource engages in regulated gas distribution, gas transmission, vertically integrated electric operations, and, to a much lesser extent, merchant operations. Following the sale of NiSource's natural gas exploration and production (E&P) business in late 2002 or early 2003, more than 98% of consolidated operating income will be derived from regulated operations. Although the operating subsidiaries' financial profiles are much stronger than that of NiSource, Standard & Poor's views the default risk as the same throughout the organization because there...
Companies mentioned in this report are: NiSource Finance Corp.
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.
SHOW LESS READ MORE >