Moody’s Lowers NiSource Credit Ratings Citing Heavy Leverage and Weak Subsidiary Cash Flow
Moody’s Investors Service reduced NiSource Inc.'s debt grades on February 01, 2002, cutting the holding company's senior unsecured rating to Baa3 from Baa1 and lowering certain subsidiary ratings to Baa2. The move covers about $8 billion of debt and follows materially higher leverage and weaker-than-expected cash flow at subsidiary levels, with Moo…