Moody's ups Williams outlook to stable

Moody's Investors Service said it changed the Williams Cos., Inc.'s (Baa3 senior unsecured) outlook to stable from negative, following the company's announcement that it will not pursue the separation of one or more of its principal business units.

Moody's said it also affirmed Williams' ratings and changed the outlook to stable for Transcontinental Gas Pipeline Corp. (Baa2 senior unsecured) and Northwest Pipeline Corp. (Baa2 senior unsecured).

"Williams' decision to remain a diversified natural gas company has eliminated the event risk that was reflected in Moody's negative outlook," commented Pete Speer, Moody's vice president.

"While the lower commodity price environment will lead to significantly reduced earnings and cash flows in 2009, Williams is well positioned in its Baa3 rating to weather this sector downturn."

© 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.