Fitch: KeySpan Gas notes A-

Fitch Ratings said it assigned an A- rating to KeySpan Gas East Corp.'s issuance of $700 million 2.742% senior notes due Aug. 15, 2026.

The outlook is stable.

The new senior unsecured notes will rank equally with KeySpan’s existing senior unsecured obligations.

The proceeds will be used for general corporate purposes, Fitch said.

The company’s natural gas distribution business provides relatively stable earnings and cash flows, the agency said.

The company benefits from rate design features that include forward-looking test years, revenue decoupling and weather normalization, Fitch said.

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