Fitch ups Columbia Pipeline

Fitch Ratings said it upgraded Columbia Pipeline Group, Inc.'s long-term issuer default rating and senior unsecured rating to A- from BBB+.

The company is owned by TC Energy Corp., formerly known as TransCanada Corp. (A-/stable).

The outlook is stable.

“The upgrade is based on the continuation of largely on-budget major project completions, and, most importantly, equity infusions by TRP that have reduced total debt,” the agency said in a news release.

“Debt to adjusted EBITDA at Dec. 31, 2018 was 1.9x, down from 3.4x the prior year.”

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