Moody's upgrades Oneok to Baa2

Moody's Investors Service said it upgraded Oneok, Inc.'s and Oneok Partners, LP's senior unsecured ratings to Baa2 from Baa3 and changed their outlooks to stable from positive.

"The upgrade of Oneok's ratings to Baa2 reflects significant deleveraging achieved by the company and factors Moody's expectation that it will be able to maintain the improved leverage profile, supported by robust execution and expanded infrastructure assets," said Elena Nadtotchi, a senior vice president at Moody's, in a press release.

The outlook reflects the view that Oneok is well-positioned to keep its improved leverage profile and superb liquidity position, the agency said.

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