Bulletin: Southern Natural Gas Co. LLC Ratings Unaffected By Add-On

NEW YORK (S&P Global Ratings) Oct. 31, 2019--S&P Global Ratings today said that its 'BBB+' issue-level rating on Southern Natural Gas Co. LLC's $400 million 4.8% senior notes due 2047 are unchanged following the company's announcement of a $100 million add-on. After the add-on the total amount outstanding on the notes will be $500 million. The company intends to use net proceeds for general business purposes. As of June 30, 2019, the company had $1.1 billion of reported debt. Southern Natural Gas is a 6,950-mile pipeline system moving natural gas from supply basin in Louisiana, Mississippi, and Alabama to market areas in Louisiana, Mississippi, Alabama, Florida, Georgia, South Carolina, and Tennessee. Southern Natural Gas is owned by Kinder Morgan (50%)

...October 31, 2019 NEW YORK (S&P Global Ratings) Oct. 31, 2019--S&P Global Ratings today said that its '###+' issue-level rating on Southern Natural Gas Co. LLC's $400 million 4.8% senior notes due 2047 are unchanged following the company's announcement of a $100 million add-on. After the add-on the total amount outstanding on the notes will be $500 million. The company intends to use net proceeds for general business purposes. As of June 30, 2019, the company had $1.1 billion of reported debt. Southern Natural Gas is a 6,950-mile pipeline system moving natural gas from supply basin in Louisiana, Mississippi, and Alabama to market areas in Louisiana, Mississippi, Alabama, Florida, Georgia, South Carolina, and Tennessee. Southern Natural Gas is owned by Kinder Morgan (50%) and a subsidiary of Southern Company Gas (50%)....

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