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Article: Fitch Ratings Affirms Northern Border Partners & Northern Border Pipeline.
- Article from:
- Business Wire
- Article date:
- December 22, 2003
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Business Editors
NEW YORK--(BUSINESS WIRE)--Dec. 22, 2003
Fitch Ratings has affirmed the 'BBB+' senior debt rating for Northern Border Partners, L.P. (NBP) and the 'A-' senior debt rating for its regulated pipeline affiliate Northern Border Pipeline Co. (NBPL). The Rating Outlook for both companies remains Negative. The rating action follows an announcement that NBPL's owners will contribute through cash calls a total of $130 million into NBPL in two equal increments over the next year. In conjunction with that action, NBPL's distribution formula is being changed to more closely align its cash requirements with cash flows.
NBP is a publicly ...