Fitch affirms KeySpan

Fitch Ratings said it affirmed KeySpan Corp. and subsidiary companies KeySpan Gas East Corp. and Brooklyn Union Gas Co.

The outlook is stable.

KeySpan's issuer default rating was affirmed at A- and senior unsecured debt rating at A-.

KeySpan Gas East's issuer default rating was affirmed at A- and senior unsecured debt rating at A.

Brooklyn Union's issuer default rating was affirmed at A- and its senior unsecured debt was affirmed at A.

The ratings reflect the group's low operating risk due to regulated nature of gas distribution subsidiaries, stable utility financial metrics and a balanced regulatory treatment, Fitch said.

The ratings also consider the sufficient liquidity support by ultimate parent company, National Grid plc, the agency said.

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