S&P rates EQT notes BBB

Standard & Poor's said it assigned a BBB rating to EQT Corp.'s $700 million senior unsecured notes offering.

The corporate credit rating is BBB.

The outlook is stable.

Proceeds will be used to repay outstanding amounts under its revolving credit facility.

Ratings reflect a satisfactory business risk profile and intermediate financial profile, the agency noted.

Credit strengths include a relatively low risk and low cost exploration and production business as well as stable cash flows from its regulated utility and pipeline businesses, the agency said.

The rating also reflects the company's aggressive pursuit of organic growth projects and midstream segments that has resulted in escalating leverage, S&P said.

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