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S&P ups MountainWest Pipeline
S&P said it raised its rating on former Southwest Gas Holdings Inc.’s MountainWest Pipeline LLC to BBB from BBB- and removed it from CreditWatch with positive implications where they were placed on Dec. 9.
Southwest Gas closed its sale of MountainWest to higher-rated Williams Cos. for about $1.5 billion, including cash of about $1.07 billion and assumed debt of about $430 million.
The higher rating is consistent with Williams’ ratings because S&P noted it considers MountainWest a core subsidiary.
The stable outlook reflects the stable outlook on Williams, S&P said.
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