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Moody's may still cut Questar
Moody's Investors Service said that Questar Market Resources, Inc.'s Baa3 senior unsecured ratings remain under review for possible downgrade.
Based on the company's planned transfer of Wexpro Co. and debt outstanding on the spin date, it is likely that QMR will be downgraded to a Ba1 corporate family rating upon the completion of the proposed spin-off.
"The planned debt reduction does not fully offset the benefits that Wexpro provided Questar Market Resources in terms of asset scale and lower business risk," said Pete Speer, Moody's vice president.
"However, the company's leverage metrics and competitive cost structure following the spin-off support a Ba1 rating."
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