S&P rates PNG notes BBB-

Standard & Poor's said it assigned a BBB- corporate credit rating to PNG Cos. LLC and a BBB- rating to its proposed $125 million senior secured notes due 2015, $105 million senior secured notes due 2017 and $181 million senior secured notes due 2020.

The outlook is stable.

The proceeds will be used to allow SteelRiver Infrastructure Fund North America LP to fund the debt portion of its acquisition of Peoples Natural Gas Co. from Dominion Resources Inc.

The agency said the rating on PNG reflects its excellent business risk profile and aggressive financial risk profile.

© 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.