Fitch: NiSource unchanged

Fitch Ratings said NiSource Inc.'s BBB issuer default rating and stable outlook are unchanged following an adverse ruling by the Supreme Court of Appeals of West Virginia relating the company's class action suit because the potential for the adverse ruling was already considered in Fitch's analysis of the company.

NiSource announced on Friday that the court voted to refuse to hear its appeal of a $404 million verdict rendered in a state class action lawsuit in 2007. It had been alleged that Columbia Natural Resources, a former subsidiary of NiSource, underpaid natural gas royalties. NiSource will seek a continuation of the stay of judgment in the case and will file an appeal with the U.S. Supreme Court.

The agency believes NiSource's liquidity is adequate to pay the full amount of the damages should it be required.

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