Fitch upgrades Williams Partners

Fitch Ratings said it upgraded the issuer default ratings and senior debt ratings for Williams Partners LP and its affiliates, Williams Partners Finance Corp., Northwest Pipeline LLC and Transcontinental Gas Pipe Line Co., LLC.

Williams Partners' short-term issuer default rating and commercial paper rating was upgraded to F2 from F3. In addition, the agency affirmed the issuer default rating and debt ratings for Williams Cos., Inc.

The outlook was revised to stable from positive for all companies excluding Williams Cos., which remains at stable.

Fitch said the upgrade is supported by Williams Partners' recently completed acquisitions and ongoing organic growth projects, which have increased the scale and diversity of its operations. Most significantly, its relative exposure to volatile natural gas liquids prices is lessening due to the build-out of fee-based pipeline and midstream facilities in the Marcellus and Utica production basins and through the operation of its Geismar olefins production facility.

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