S&P revises Dominion Energy view to stable

S&P said it affirmed its ratings on Dominion Energy Inc. and subsidiaries Virginia Electric & Power Co. (VEPCO), Dominion Energy Gas Holdings LLC and Questar Gas Co., including the BBB+ issuer credit ratings, and revised the outlooks to stable from negative.

At the same time, S&P said it raised the issuer credit and unsecured debt issue rating on subsidiary Dominion Energy Questar Pipeline LLC (DEQP) to BBB+ from BBB. The outlook is stable.

“The stable outlook reflects our expectations that Dominion's lower-risk utility businesses will increase to about 75% of consolidated EBITDA following the SCANA acquisition from prior expectations of about 70% of consolidated EBITDA,” S&P said in a news release.

The Public Service Commission of South Carolina approved Dominion Energy’s acquisition of South Carolina Electric & Gas Co., and S&P expects that Dominion will close on its all-stock acquisition of SCANA Corp. in the very near term.

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