Standard & Poor's Ratings Services Upgrades NorthWestern's Credit Ratings
17 März 2008 - 6:39PM
PR Newswire (US)
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/.
DATASOURCE: NorthWestern Corporation CONTACT: Media, Bobbi
Schroeppel, 1-866-622-8081, , or Investor Relations, Dan Rausch,
+1-605-978-2902, , both of NorthWestern Corporation Web site:
http://www.northwesternenergy.com/
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