Judgment against NiSource could hurt credit rating

January 30, 2007

A recent $404 million judgment against NiSource Inc. could hurt the Merrillville-based company’s credit rating if it’s not set aside by the court or overturned on appeal, Standard & Poor’s Rating Services said today.

NiSource has said it would appeal the West Virginia jury verdict. The case, brought by several natural gas royalty owners, alleged NiSource and Virginia-based Chesapeake Energy Corp., a subsidiary NiSource sold in 2003, underpaid natural gas royalties.

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