Fitch cuts, yanks Columbia Pipeline

Fitch Ratings said it downgraded Columbia Pipeline Group, Inc.’s long-term issuer default rating to BBB+ from A-. The outlook is stable.

Columbia Gas Transmission, LLC and Columbia Gulf Transmission, LLC recently separated from Columbia. They are no longer subsidiaries. They were transferred as part of a transaction to sell a minority interest in the two entities, Fitch said.

“The downgrade is due to a change of business profile that triggered the application of Fitch's parent subsidiary linkage (PSL) criteria,” the agency said in a press release.

Fitch withdrew the ratings for business reasons.

© 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.