Moody’s trims MountainWest

Moody's Investors Service said it downgraded MountainWest Pipeline Holding Co.'s senior unsecured rating to Baa1 from A3. The outlook was changed to stable from rating under review for downgrade. This concludes the review started on Dec.16, 2022.

"MountainWest's downgrade reflects its acquisition by the Williams Cos., Inc. (Williams, Baa2 stable), a diversified midstream oil and gas company and positions MountainWest's rating equal to Williams' other regulated natural gas pipeline subsidiaries – Transcontinental Gas Pipeline Co., LLC (Transco) and Northwest Pipeline LLC (Northwest). The ratings for Transco and Northwest are constrained to one notch above Williams' rating, reflecting Williams' dependence on the pipelines' cash flow to support its own debt service requirements and dividends," said John Thieroff, a Moody’s senior credit officer, in a press release.

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