S&P: Williams unaffected

Standard & Poor's said The Williams Cos. Inc.'s (B+/stable/--) application with FERC requesting authorization to construct and operate an estimated $333 million project to replace capacity on its Northwest Pipeline in western Washington has no near-term affect on the rating on the company.

The proposed capacity-replacement project involves the abandonment of 268 miles of 26-inch pipeline between Sumas and Washougal, Wash., and the construction of about 80 miles of 36-inch pipeline in four sections along the same pipeline corridor.

S&P said costs associated with the capacity-replacement project will be rolled into the rates of Northwest Pipeline Corp. (B+/stable/--) customers.

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