Fitch affirms Nicor

Fitch Ratings said it affirmed Nicor Inc. and Northern Illinois Gas Co.'s long-term issuer default rating of A, short-term issuer default rating of F1, senior unsecured rating of A and preferred stock rating of A-.

The outlook remains stable.

Ratings are based on the stability and predictability of cash flow from the regulated gas distribution utility, solid credit protection measures and conservative capital structure, the agency noted.

Concerns include exposure to potential liability payments and disallowances of gas costs under prudency review, Fitch said.

The issuer's adjusted long-term debt-to-EBITDA ratio is about 2 times.

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