Moody's upgrades NorthWestern

Moody's Investors Service said it upgraded NorthWestern Corp.'s senior secured rating to Baa1 from Baa2 and senior unsecured bank credit facility to Baa2 from Baa3.

The outlook remains positive.

The agency said the upgrade reflects the company's steady financial performance achieved in 2008 and the benefits of supportive rate case decisions in all three jurisdictions that addressed various operating cost pressures and additions to utility infrastructure.

Despite disruptions in the credit and capital markets, NorthWestern has maintained sufficient liquidity with cash flow from operations supplemented by its $200 million committed unsecured bank revolver, Moody's noted.

The positive outlook reflects the agency's view that NorthWestern is well positioned to continue achieving strong financial results in spite of challenging economic conditions.

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