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Fitch affirms NiSource
Fitch Ratings said it affirmed NiSource Inc.'s issuer default rating at BBB- and NiSource Capital Markets Inc. issuer default rating at BBB- and senior unsecured debt at BBB-.
The outlook remains stable.
NiSource's rating reflects the low business risk and consistent operating performance generated by its geographically diverse mix of regulated operations, the agency said.
Other considerations include increasing revenues from improved industrial electric usage at utility Northern Indiana Public Service Co., anticipated favorable near-term rate settlements across all three operating segments and the future financial benefits from a $400 million forward equity sale that NiSource expects to draw on in the second half of 2012, Fitch said.
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