Fitch affirms NGPL Pipeco

Fitch Ratings said it affirmed the issuer default rating and outstanding senior unsecured debt ratings for NGPL PipeCo LLC at BBB-.

The outlook is stable.

The ratings reflect the predictable cash flows generated by its Federal Energy Regulatory Commission regulated pipeline assets, a favorable competitive market position, limited liquidity needs and a conservative growth strategy, Fitch said.

The company's position is enhanced by its access to diverse and resource-rich supply areas and deliverability to a high quality, utility dominated customer base, the agency said.

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