S&P affirms MidAmerican Energy

Standard & Poor's said it affirmed the A- corporate credit rating on MidAmerican Energy Holding Co. and subsidiaries PacifiCorp and MidAmerican Energy Co. as well as the A rating on subsidiary Northern Natural Gas Co.

The outlook is stable.

Kern River Gas Transmission Co.'s A- rating remains on CreditWatch with negative implications.

The ratings are based on the credit quality of its AAA rated parent and the support provided by Berkshire Hathaway, according to S&P. Without the support, the issuer's business and financial risk would support a rating that is in the low BBB category, the agency said.

The ratings on the issuer's parent-level senior unsecured debt consider the ring-fenced structure of its subsidiaries and the company's ability to meet its parent-level financial obligations with dividend distributions from its portfolio of energy assets, S&P said.

The ratings also consider the company's strong business risk position and aggressive financial profile, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.