The aging behavior of a eutectic mixture of bis (2,2-dinitropropyl) acetal and formal [called NP here] has been studied in various atmospheres [dry (air or nitrogen) versus wet] at temperatures 70°C and below. The properties of aged samples were analyzed using Fourier transform infrared (FTIR) spectroscopy, Karl Fischer (KF) titration, liquid chromatography/mass spectrometry (LC/MS), and thermogravimetric analysis (TGA) over a period of three years. The results indicate that at aging temperatures up to 55°C, the initial rates of water production from nitrous acid (HONO) formation and decomposition into the water, NO, and NO 2 follows a 1 st order rate law and the rate constants follow an Arrhenius law as a function of temperature. The activation energies and pre-factors for water and volatiles production yield a single linear kinetic compensation plot, suggesting a common degradation pathway between NP and the various combinations of its constituents. Within a narrow temperature range, around 55°C, a trace amount of water in NP stabilizes its properties by preventing HONO elimination. When the aging temperature is substantially higher than 55°C, the nature of the degradation mechanism changes. It is suspected that the degradation products of NO x , water, and HNO 3 serve as catalysts to auto-catalyze (kinetics beyond the 1 st order) and further degrade NP. The effect of headspace volume on this auto-catalytic process will be discussed.