Black Hills Corporation -- Moody's maintains negative outlook for Black Hills Corp.; affirms Baa1 rating

New York, February 12, 2016 -- Moody's Investors Service, ("Moody's") affirmed the ratings of Black Hills Corporation (Black Hills, Baa1 senior unsecured) and maintained the negative outlook. The rating affirmation follows the completion of the SourceGas Holdings (not rated) acquisition by Black Hills. SourceGas Holdings was the parent company of SourceGas LLC (SourceGas, Baa1 stable), an intermediate parent company with natural gas local distribution companies (LDC) and other gas related assets. Black Hills is now the parent holding company which includes SourceGas' natural gas operations under its Black Hills Utility Holdings, Inc. (not rated) subsidiary.

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