S&P: Dominion Resources unaffected

Standard & Poor's said its ratings and outlook on Dominion Resources Inc. (A-/stable/A-2) are not immediately affected following the company's announcement that the sale of two of its natural-gas distribution companies to Equitable Resources Inc. (A-/Watch negative/A-2) will not be completed.

The company is indicating that it still intends to sell the utility properties in West Virginia and Pennsylvania and the delay in the divestment is not expected to greatly affect Dominion's credit quality, the agency said.

A significant time lapse in the continuing sale process or lower proceeds from the eventual sale would marginally diminish Dominion's credit profile, the agency added.

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