Moody's changes Williams view to positive

Moody's Investors Service said it changed the outlook of the Williams Cos., Inc. to positive from stable and affirmed the company's Baa3 senior unsecured notes rating and its Prime-3 commercial paper rating.

At the same time, Moody's changed the outlooks of Williams' wholly owned pipeline subsidiaries, Northwest Pipeline LLC (Northwest) and Transcontinental Gas Pipeline Co., LLC (Transco), to positive from stable and affirmed both companies' Baa2 senior unsecured ratings.

“Williams' significant and ongoing deleveraging, underpinned by its tempered growth trajectory and free cash flow generation, and the resiliency and improved profitability of its northeast gathering and processing operations support today's outlook changes,” said John Thieroff, senior credit officer for Moody’s, in a news release. “Execution of the company's 2021 plan to reduce leverage below 4.5x would likely lead to an upgrade, all else equal.”

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