Moody's upgrades Williams

Moody's Investors Service said it upgraded the long-term ratings of Williams Cos., Inc. to Baa2 from Baa3. The agency also raised the senior unsecured ratings of Williams' subsidiaries Transcontinental Gas Pipeline Co., LLC and Northwest Pipeline LLC to Baa1 from Baa2.

"Williams' significant and ongoing deleveraging, the consistency and stability of its considerable natural gas pipeline business, and free cash flow generation support the upgrade," commented John Thieroff, a Moody’s senior credit officer, in a press release.

Moody’s also revised the outlook for the three issuers to stable from positive. The revision reflects an expectation of free cash flow generation and Moody's adjusted leverage between 4x and 4.5x, the agency said.

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