Fitch: MidAmerican notes BBB+

Fitch Ratings said it assigned a BBB+ rating to MidAmerican Energy Holding Co.'s notes, including its $400 million 1.1% senior unsecured notes due 2017; $350 million 2% senior unsecured notes due 2018; $500 million 3.75% senior unsecured notes due 2023; and $750 million 5.15% senior unsecured notes due 2043.

The proceeds will be used to fund a portion of the purchase price for the NV Energy acquisition.

The notes will rank on parity in right of payment with all other existing and future senior unsecured debt, Fitch said.

The outlook is stable.

The ratings are supported by the company's large high-quality asset base, including two U.S. integrated regulated utilities and two U.S. interstate gas pipeline systems, the agency said.

MidAmerican Energy is 89.8% owned by Berkshire Hathaway Inc. The company retains capital as a direct result of Berkshire's financial strength, which obviates the need to upstream dividends and affords MidAmerican Energy with an advantage in funding organic growth and acquisitions, Fitch said.

The ratings also consider the company's high consolidated leverage and sufficient liquidity relative to funding needs, the agency said.

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