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Fitch: Williams on evolving watch
Fitch Ratings said it has placed the issuer default ratings and outstanding debt ratings for the Williams Cos., Inc. and its two debt issuing pipeline company subsidiaries Transcontinental Gas Pipe Line Corp. and Northwest Pipeline GP on rating watch evolving.
The agency noted that rating watch evolving indicates the ratings may be raised, lowered or maintained at current levels.
Affected ratings include Williams' issuer default rating at BBB-, senior unsecured at BBB- and junior subordinated convertible debentures at BB, Transcontinental's issuer default rating at BBB and senior unsecured at BBB ad well as Northwest's issuer default rating at BBB and senior unsecured at BBB.
Fitch said its rating action follows the announcement that Williams' management and board of directors are evaluating a variety of structural changes in the company as a means to further enhance shareholder value.
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