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The Company has interests in diversified operations that include an electric utility, plastics, manufacturing, health services, food ingredient processing and other businesses.
Something to keep an eye on..."2:01p ET July 3, 2012 (Business Wire)Fitch Ratings has affirmed the long-term Issuer Default Rating (IDR) of Otter Tail Corporation (OTTR) at 'BBB-' and the long-term IDR of its regulated electric utility subsidiary, Otter Tail Power Company (OTP) at 'BBB'. The Rating Outlook for both entities remains Negative. Approximately $250 million of outstanding debt is affected by this action.Due to the risks of its diversified businesses, Fitch rates OTTR one notch below its regulated electric subsidiary OTP. OTTR's current IDR of 'BBB-' takes into consideration the company's unusual business portfolio including a relatively small electric utility and a mix of small cyclical industrial businesses that operate in fragmented and competitive markets. The 2008-2009 recession revealed the vulnerability of OTTR's business portfolio as the cyclical industrial and service businesses experienced steep declines."
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