Published:
Standard & Poor's Ratings Services Upgrades NorthWestern's Credit Ratings
SIOUX FALLS, S.D., March 17 /PRNewswire-FirstCall/ -- NorthWestern
Corporation d/b/a NorthWestern Energy (Nasdaq: NWEC) today announced that
Standard & Poor's Ratings Services ("S&P") upgraded NorthWestern's long-term
corporate credit rating, senior secured ratings and senior unsecured rating as
follows:
From To
Senior Secured Rating -- Montana BBB A-
Senior Secured Rating -- South Dakota BBB BBB+
Senior Unsecured Rating BB- BBB-
Corporate Rating BB+ BBB
Outlook Positive Stable
S&P cited a steady improvement in the financial profile of the Company as
well as a paring of nonregulated operations. S&P also noted that the Company
has shown a commitment to focus on regulated utility operations, including
managing regulatory risk and resolving pending litigation.
An immediate result of this upgrade will be a decrease by 25 basis points
on the interest rate, a 2.5 basis point decrease on the commitment fees, and
certain covenants will fall away on NorthWestern's unsecured revolver.
About NorthWestern Energy
NorthWestern Energy is one of the largest providers of electricity and
natural gas in the Upper Midwest and Northwest, serving approximately 650,000
customers in Montana, South Dakota and Nebraska. More information on
NorthWestern Energy is available on the Company's Web site at
http://www.northwesternenergy.com.
SOURCE NorthWestern Corporation
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