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Moody’s assigns EQT notes Ba3
Moody’s Investors Service said it assigned a Ba3 rating to EQT Corp.’s proposed $300 million of senior unsecured notes due 2029.
EQT’s senior unsecured notes, including the planned notes are rated Ba3, the same as the company’s corporate family rating because the company’s long-term debt, which includes a $2.5 billion revolving credit facility (unrated), is unsecured, Moody’s said.
The proceeds will be used to partially fund EQT’s acquisition of Chevron Corp.’s Appalachia assets. EQT will acquire about 335,000 net Marcellus acreage with 450 MMcfe per day of production from Chevron for $735 million.
All Moody’s other EQT ratings remain unchanged, including its Ba3 corporate family rating,
The outlook remains positive.
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