Columbia Gas System $850M 4(2) CP Prog Rtd A-2 by S&P.NEW YORK--(BUSINESS WIRE)--Standard & Poor's CreditWire 10/8/97--Standard & Poor's today assigned its 'A-2' rating to Columbia Gas System Inc.'s $850 million 4(2) commercial paper program, which is backed by Columbia's $1 billion five-year unsecured credit agreement. Ratings at Columbia Gas are supported by the diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. and integration of its natural gas transmission, storage, distribution, and exploration and production activities. The transmission sector -- anchored by Columbia Gas Transmission Columbia Gas Transmission is a natural gas pipeline that gathers gas in the Gulf of Mexico and brings it to New York. It is owned by NiSource. Its FERC code is 21.[1] External links
tr.v. fil·i·at·ed, fil·i·at·ing, fil·i·ates Law To determine judicially the paternity of (a child born out of wedlock, for example). pipeline storage. This is countered by modest growth potential and increased competition from electric utilities and gas marketers. Ratings also reflect Columbia's quality management team. The company's efforts have been successful in reducing operating costs operating costs npl → gastos mpl operacionales , implementing a disciplined (largely internally funded) capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. program, managing regulatory issues, and eliminating certain noncore assets, such as its Southwestern oil and gas properties. In addition, ratings recognize that Columbia's marketing strategy maximizes the use of its previously under-managed integrated asset base and should garner increased revenues and margins. OUTLOOK: STABLE The outlook reflects the company's strong integrated natural gas asset base and high market share. Ratings stability is also supported by steady, although modest, growth in the regulated sectors. Over the next few years, adjusted funds from operations Funds From Operations (FFO) Used by real estate and other investment trusts to define the cash flow from trust operations; earnings with depreciation and amortization added back. interest coverage may exceed 4.25 times and adjusted funds from operations to total debt should approach 24%, Standard & Poor's said. -- CreditWire CONTACT: Ronald M Barone, 212/208-1929 For more information on criteria or subscriptions: http://www.ratings.standardpoor.com |
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