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Bay State Gas Co. Jul 03
Standard & Poors, July 2003
Abstract
Gas cost adjustment mechanisms in all three jurisdictions and a gas cost incentive mechanism in Massachusetts. Flexible industrial rates. Natural gas saturation of 49%, providing significant conversion and growth potential. Access to lower-cost Canadian gas. Above-average access to pipeline capacity. Competitive rates relative to other New England gas distributors. No weather-adjustment mechanism. Parent NiSource's financial condition profile is weaker than that of Bay State Gas. The ratings on Bay State Gas Co., a subsidiary of NiSource Inc., are based are on the consolidated financial and business risk profiles of the entire NiSource family of companies. Through its subsidiaries, NiSource is involved in regulated gas distribution, gas transmission, vertically integrated electric operations, and, to a very minor extent, unregulated operations. Although...
Companies mentioned in this report are: Bay State Gas Co.,Columbia Energy Group,Northern Indiana Public Service Co.,NiSource Inc.,NiSource Capital Markets Inc.,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.
Research Type: Full Analysis
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