-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, P0aKzM+94qjka42SbCD4IBc2dkAPIqmF+hiXFuQ8zglQmHGVthYFv5RLH2b73Fv0 96HZ8wWC8j/lVL8u3I/E8g== 0000950129-02-001850.txt : 20020416 0000950129-02-001850.hdr.sgml : 20020416 ACCESSION NUMBER: 0000950129-02-001850 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020409 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020410 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NORTHERN BORDER PARTNERS LP CENTRAL INDEX KEY: 0000909281 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS TRANSMISSION [4922] IRS NUMBER: 931120873 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12202 FILM NUMBER: 02607371 BUSINESS ADDRESS: STREET 1: 1400 SMITH ST STREET 2: C/O ENRON BLDG CITY: HOUSTON STATE: TX ZIP: 77002 BUSINESS PHONE: 7138536161 MAIL ADDRESS: STREET 1: 1400 SMITH ST STREET 2: ENRON BUILDING RM 4524 CITY: HOUSTON STATE: TX ZIP: 77002 8-K 1 h95958e8-k.txt NORTHERN BORDER PARTNERS L P - APRIL 9, 2002 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Act of 1934 Date of Report (Date of earliest event reported): APRIL 9, 2002 NORTHERN BORDER PARTNERS, L.P. (Exact name of registrant as specified in its charter) DELAWARE 1-12202 93-1120873 (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 1111 SOUTH 103RD STREET 68124 OMAHA, NEBRASKA (Zip Code) (Address of principal executive offices)
(877) 208-7318 (Registrant's telephone number, including area code) ITEM 5. OTHER EVENTS Northern Border Partners, L.P. is filing a copy of its press release dated April 9, 2002 ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL AND EXHIBITS Exhibit 99.1 Northern Border Partners, L.P. press release dated April 9, 2002. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Northern Border Partners, L.P. ( A Delaware Limited Partnership) Dated: April 10, 2002 By: /s/ Jerry L. Peters ------------------------------------- Jerry L. Peters Chief Financial & Accounting Officer EXHIBIT INDEX Exhibit 99.1 -- Northern Border Partners, L.P Press Release dated April 9, 2002 EX-99.1 3 h95958ex99-1.txt PRESS RELEASE - ADRESSES MOODY'S RATING ACTION EXHIBIT 99.1 Northern Border News Partners, L.P. Release 1111 South 103rd Street Omaha, Nebraska 68124-1000 For Further Information, Contact: Public Relations Contact Beth Jensen (402) 398-7806 Investor Relations Contact: Ellen Konsdorf (402) 398-7840 NORTHERN BORDER PARTNERS ADDRESSES MOODY'S RATING ACTION; CONFIDENT WITH STRATEGY FOR IMMEDIATE RELEASE: Tuesday, April 9, 2002 Omaha, NE - Northern Border Partners, L.P. (NYSE: NBP) announced today that Moody's Investors Service has assigned a senior unsecured debt rating of Baa2 to the Partnership's public debt. Moody's confirmed the A3 senior unsecured rating of the Partnership's primary subsidiary, Northern Border Pipeline Company. Both rating outlooks are negative. The change in public debt rating for Northern Border Partners ends a rating review that began on February 8, 2002 with the announcement by Moody's that they had placed Northern Border Partners and Northern Border Pipeline Company under review for possible downgrade. In undertaking this action, Moody's cited Northern Border Partners' recent large acquisitions, its movement into the non-regulated gathering and processing businesses and the structure of the Partnership's public debt. The new Northern Border Partners rating represents a downgrade of only one level, and continues to leave Northern Border Partner's debt rated at a solid investment grade level. Standard & Poor's and FitchRatings continue to rate Northern Border Partners' and Northern Border Pipeline Company's public debt BBB+ and A-, respectively. "While we are disappointed that Moody's chose to lower our debt rating by one level," said Bill Cordes, chairman and chief executive officer of Northern Border Partners, "we recognize that it is more in line with our peer companies, and we have no immediate increases in debt costs from the rating change. We continue to believe our risk profile is conservative and our acquisitions strategy appropriate to provide distribution growth to our unitholders." Northern Border Partners, L.P. owns a 70 percent general partner interest in Northern Border Pipeline Company, which owns a 1,249-mile interstate pipeline system that transports natural gas from the Montana-Saskatchewan border to markets in the Midwestern United States. Additionally, the Partnership owns the 350-mile long Midwestern Gas Transmission system, which stretches from Portland, Tennessee to Joliet, Illinois. The Partnership also has gathering systems and processing plants in the Powder River, Wind River, and Williston Basins in the U.S.; owns and operates processing plants and gathering pipelines in Alberta, Canada; and transports coal-water slurry via a pipeline in the southwestern U.S. Northern Border Partners information may be found at http://www.northernborderpartners.com. This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although Northern Border Partners, L.P. believes that its expectations are based on reasonable assumptions, it can give no assurance that such expectations will be achieved. Important factors that could cause actual results to differ materially from those in the forward-looking statements include developments in the voluntary petitions for bankruptcy by Enron, and conditions in the capital markets. -----END PRIVACY-ENHANCED MESSAGE-----