Moody’s changes Iroquois Gas to stable

Moody's Investors Service said it affirmed Iroquois Gas Transmission System, LP's A3 senior unsecured rating and changed the outlook to stable from positive.

These actions reflect the delay in Iroquois' ability to gain further access to Marcellus gas.

"Although Iroquois' strategic position as one of the few natural gas pipelines supplying the New York metro market is unchanged, a further improvement in its market position is not materializing as initially envisioned," Moody's analyst Lesley Ritter said in a news release.

"The stabilization of Iroquois' outlook reflects the indefinite delay in Iroquois becoming a key conduit to flow Marcellus gas to the supply constrained New England region following the denial of a key environmental permit to the third party-owned Constitution pipeline."

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