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S&P: EQT outlook negative
Standard & Poor's said it revised the outlook on EQT Corp. to negative from stable and affirmed the BBB corporate credit rating and lowered the short-term rating to A-3 from A-2.
"The outlook revision is based on our view that EQT's financial measures, which are at the high end of our expectations for the rating category, could weaken over the next few years due to the company's aggressive spending in its more volatile exploration and production and midstream businesses," S&P analyst Amy Eddy said in a statement.
In 2009, EQT had a debt-to-EBITDA ratio close to 4x compared with below 3x in 2008.
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