Fitch rates Dominion Resource notes BBB+

Fitch Ratings said it assigned a BBB+ rating to the new $350 million 6% senior unsecured notes issued by Dominion Resources, Inc.

The outlook is stable.

Proceeds are expected to be used for general corporate purposes, which includes paying some of the expected $3 billion taxes on the sale of certain assets.

Fitch said proceeds from asset sales are being used to reduce debt and repurchase common shares.

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