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S&P rates NiSource notes BBB+
S&P said it assigned a BBB+ rating to NiSource Finance Corp.'s senior unsecured notes due May 15, 2027 and senior unsecured notes due May 15, 2047.
As the primary financing entity of holding company NiSource Inc., NiSource Finance is considered a core subsidiary, S&P said.
NiSource intends to use a portion of the proceeds to redeem outstanding long-term debt, the agency said, and the remainder for general corporate purposes, including capital expenditures and working capital.
The issuer credit ratings on NiSource and NiSource Finance are BBB+ and both have a stable outlook.
The short-term rating on the company is A-2.
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