Moody's ups Williams Production

Moody's Investors Service said it raised the long-term debt ratings of Williams Production RMT Co.

Ratings raised include the Corporate Family Rating (previously called the senior implied rating) to Ba3 from B2, the senior secured bank credit facility rating to Ba3 from B1 and the senior unsecured rating to B1 from B3.

The outlook is stable.

Moody's said this action reflects the progress that The Williams Cos. Inc. (Ba3 Corporate Family Rating) has made in its domestic exploration and production (Williams E&P) business through RMT, including production and reserves growth, competitive finding and development costs, and improved leverage.

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