Fitch to rate Atmos notes BBB+

Fitch Ratings said it expects to assign a BBB+ rating to Atmos Energy Corp.'s proposed issuance of $400 million senior unsecured notes due March 15, 2019.

The transaction is expected to close on March 26, the agency said, adding that note proceeds will be used for an early redemption of Atmos' $400 million of 4% senior unsecured notes due Oct. 15, 2009.

In addition, Fitch said it has affirmed the issuer default rating and outstanding debt ratings for Atmos: issuer default rating at BBB; senior unsecured debt at BBB+; short-term issuer default rating at F2; and commercial paper at F2.

The outlook is stable.

Fitch noted that the ratings and stable outlook primarily reflect the consistent performance and low-risk nature of Atmos' large and geographically diverse regulated operations.

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