Moody's affirms PNG

Moody's Investors Service said it affirmed the senior secured Baa3 rating for PNG Cos. LLC following the announcement that the company will acquire EQT Gas Co. for $720 million.

The outlook remains stable.

"The affirmation reflects our current expectation that PNG will finance its proposed acquisition of EQT Gas Co. announced earlier today in a manner that preserves the company's existing credit profile," said Moody's analyst John M. Grause in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.