Moody’s ups Columbia Pipeline debt

Moody's Investors Service said it upgraded the senior unsecured ratings of Columbia Pipeline Group, Inc. to Baa1 from Baa2.

The outlook remains positive.

“The upgrade reflects the substantial improvement in financial metrics as parent TransCanada has met all cash flow needs with equity injections during a period of high capital expenditure,” Gavin MacFarlane, Moody’s vice president and senior credit officer, said in a news release.

“Columbia Pipeline Group continues to execute its capital program and we expect financial metrics to continue to improve.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.