Fitch rates National Fuel notes BBB

Fitch Ratings said it assigned a BBB rating to National Fuel Gas Co.'s issuance of $500 million of five-year senior unsecured notes due Jan. 15, 2026.

Proceeds will be used as part of the debt component of acquisition financing to acquire upstream gas and gathering assets in the Appalachian Basin from Royal Dutch Shell for $500 million in cash and to pay down short-term borrowings.

The outlook is stable.

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