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Fitch rates Northern Natural Gas notes A
Fitch Ratings said it assigned an A rating to Northern Natural Gas Co.'s $200 million 5¾% senior unsecured notes due July 15, 2018.
The outlook is stable.
Proceeds will be used to repay $150 million principal amount of 6¾% senior notes due Sept. 15, 2008 and for general corporate purposes.
Ratings reflect a strong standalone credit profile, which benefits from solid credit protection measures, favorable operating characteristics and low regulatory risk, the agency said.
Concerns include competitive conditions in the Midwest pipeline sector, Fitch noted.
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