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S&P affirms NorthWestern
Standard & Poor's said it affirmed its BB+ long-term corporate credit rating on NorthWestern Corp. and removed it from CreditWatch, where it was placed with negative implications on April 26, 2006.
The outlook is stable.
The agency said that the CreditWatch removal and rating affirmation reflects the termination by Babcock & Brown Infrastructure Ltd. (not rated) of its recently pending $2.2 billion acquisition of NorthWestern following a Montana Public Service Commission ruling.
According to S&P, the rating on the company also reflects improving financial measures of the regulated utility.
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