Fitch rates Otter Tail notes BBB-

Fitch Ratings said it assigned a BBB- rating to Otter Tail Corp.'s issuance of $100 million 9% senior notes due Dec. 15, 2016. The rating is the same as its issuer default rating of BBB-. The new notes will rank equally with the company's existing senior unsecured obligations.

The outlook is stable.

The ratings reflect adequate liquidity, a low level of parent debt leverage and relatively stable base provided by the cash flows and moderate level of debt leverage, Fitch said.

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