S&P revises Williams view to stable

S&P said it affirmed Williams Cos. Inc.’s BBB issuer credit rating and the BBB issuer ratings of operating subsidiaries Transcontinental Gas Pipe Line Co. LLC (Transco) and Northwest Pipeline LLC and revised the outlook to stable from negative.

“The rating affirmation and outlook revision to stable from negative reflects our view that WMB has made sufficient progress reducing financial leverage and strengthening its balance sheet compared with our previous expectations,” S&P said in a news release.

“The rating action also reflects our view that future EBITDA growth will mainly come from stable, fee-based take-or-pay arrangements and similar type contracts, which supports our expectation that WMB can maintain appropriate credit ratios for the rating.”

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