Moody's lowers NiSource's credit rating due to high debt and weak cash flow

Moody's downgraded NiSource's debt ratings due to higher than expected debt levels and weaker cash flow. The rating agency lowered NiSource's senior unsecured debt to Baa1 from Baa3 and subsidiary debt to Baa2, citing concerns about the company's leverage and its ability to service debt. NiSource faces challenges in managing over $8 billion in debt against a market capitalization of approximately $4 billion. The company plans to maintain its dividend, which is high relative to recent earnings.