Fitch rates Dominion notes BBB

Fitch Ratings said it assigned a BBB rating to Dominion Resources, Inc.'s 2009 series A 8.375% enhanced junior subordinated notes.

The outlook is stable.

Proceeds will be used for general corporate purposes.

The subordinated notes are obligations of Dominion (BBB+ issuer default rating) and will rank junior and be subordinated in right of payment and upon liquidation to all Dominion's senior debt.

So long as there is no event of default under the subordinated indenture, Dominion may defer interest payments on the notes from time to time for one or more periods of up to 10 consecutive years each time.

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