Moody’s changes Oneok view to stable

Moody’s Investors Service said it revised the outlook for Oneok Inc. and Oneok Partners LP to stable from positive.

“The stable outlook recognizes Oneok’s flexibility to scale down capital investment and maintain its balance sheet and adequate liquidity through 2020, amid the rapid decline in E&P activity in its key basins, as well as its capacity and resolve to return to the deleveraging path in 2021,” said Elena Nadtotchi, a senior credit officer at Moody’s, in a press release.

Moody’s affirmed both companies’ ratings.

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