Printer Friendly

DUFF & PHELPS RATES NORTHERN ILLINOIS GAS COMPANY'S $75 MILLION FIRST MORTGAGE BONDS 'AA+'

 CHICAGO, Feb. 4 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has reaffirmed its 'AA+' (Double-A-Plus) rating on Northern Illinois Gas Company's three-part issue of first mortgage bonds totaling $75 million. Proceeds from the offering will be used for retirement of maturing debt, construction, and general corporate purposes.
 Northern Illinois Gas (NI-Gas) has demonstrated strong financial measures and conservative financial management. With connections to five interstate pipelines and a large amount of storage capacity, the company is well positioned to exploit the changing industry environment under FERC Order 636. NI-Gas has broadened its range of services and initiated new rate schedules to improve its competitive position and foster growth. Capital needs are modest and should be funded completely through internal cash.
 The company's service area in northern Illinois (primarily Chicago suburbs) offers both economic diversity and customer growth. Such growth, while moderating, is projected to remain steady. In addition to selling gas to all customer classes, NI-Gas provides transportation, gas storage, and supply backup services to commercial and industrial customers who purchase their own gas.
 -0- 2/4/93
 /CONTACT: James J. Stork, CFA of Duff & Phelps, 312-368-3125/


CO: Northern Illinois Gas Company ST: Illinois IN: UTI SU: RTG

LR -- NY066 -- 2952 02/04/93 11:55 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 4, 1993
Words:206
Previous Article:APPLE ANNOUNCES SUPPORT FOR GENERAL MAGIC TECHNOLOGIES
Next Article:CURTICE BURNS FOODS ANNOUNCES RETIREMENT OF DAVID J. MCDONALD; APPOINTMENT OF J. WILLIAM PETTY AS SUCCESSOR
Topics:


Related Articles
DUFF & PHELPS: ILLINOIS POWER COMPANY $235 MILLION "NEW MORTGAGE BONDS" RATED 'BBB'
DUFF & PHELPS RATES NORTHERN ILLINOIS GAS COMPANY'S $50 MILLION FIRST MORTGAGE BONDS 'AA+'
DUFF & PHELPS RATES NORTHERN ILLINOIS GAS COMPANY'S $50 MILLION FIRST MORTGAGE BONDS 'AA+'
DUFF & PHELPS RATES NORTHERN ILLINOIS GAS COMPANY'S PROPOSED $50 MILLION FIRST MORTGAGE BONDS 'AA+'
NORTHERN STATES POWER COMPANY (MINNESOTA) $600 MILLION FIRST MORTGAGE BONDS (SHELF) RATED 'AA-'
DUFF & PHELPS RATES SOUTHERN CALIFORNIA GAS COMPANY'S NEW COMMERCIAL PAPER PROGRAM DUFF 1+
DUFF & PHELPS CREDIT RATING CO. RATES NORTHERN ILLINOIS GAS COMPANY'S $50 MILLION FIRST MORTGAGE BONDS 'AA+'
DUFF & PHELPS PLACES CREDIT RATINGS OF NORTHERN STATES POWER CORPORATION AND WISCONSIN ELECTRIC POWER COMPANY ON RATING WATCH--DEVELOPING
DCR Withdraws TransTexas Gas Corporation and TransAmerican Refining Corporation Ratings Following Refinancing
DCR Rates Northern Illinois Gas Co.'s $50MM First Mortgage Bond Offering 'AA+'

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters