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S&P rates Questar notes A-
Standard & Poor's said it assigned an A- issue rating to Questar Corp.'s proposed $250 million senior unsecured notes due 2016 and a long-term A corporate credit rating and affirmed the company's short-term commercial paper rating of A-1.
Proceeds will be used to repay outstanding short-term debt.
Ratings reflect the company's excellent business risk profile and intermediate financial risk profile, S&P said.
The rating on Questar reflects the consolidated business and financial risk profiles of Questar and its subsidiaries, which consist of Questar Gas Co. (A/stable), Questar Pipeline Co. (A/stable) and Wexpro Co. (not rated).
Supportive regulation, a high-growth service area with a mostly residential customer base, low operating risks and lack of competition characterize the utility's excellent business risk profile, the agency said.
Questar has a debt-to-EBITDA ratio of about 2.7x, and leverage is expected to stay between 2.6x and 2.8x, the agency said.
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