Moody's rates KeySpan notes A3

Moody's Investors Service said it assigned an A3 rating to the $500 million 5.819% senior notes due 2041 issued by KeySpan Gas East Corp., also known as KeySpan Energy Delivery Long Island.

The outlook is stable.

The rating reflects its favorable business and operating risk profile as a natural gas distribution company and the regulatory framework under which it operates, Moody's said.

The rating also considers its current and prospective level of debt, an ongoing capital investment program and likely dividend payments to KeySpan, the agency said.

The rating also is considered in the context of the overall credit quality of the National Grid group, which is currently assessed in the low single-A rating category, Moody's added.

© 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.