Fitch rates AGL Capital notes BBB+

Fitch Ratings said it assigned a BBB+ rating to the proposed AGL Capital Corp.'s new $500 million issue of 4.4% senior notes due June 1, 2043.

The outlook is stable.

AGL Capital's ratings are based on an unconditional guarantee by its parent AGL Resources Inc.

Fitch said AGL Resources' BBB+ issuer default rating and stable outlook take into consideration the low-risk profile of its diverse utility operations. AGL owns gas distribution utilities in seven states, all of which have full recovery of gas commodity costs through adjustment mechanisms.

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