S&P trims Eastern Energy Gas

S&P said it lowered all its ratings for Berkshire Hathaway Energy Co. subsidiary Eastern Energy Gas Holdings LLC, including the issuer credit rating to A- from A and assigned a stable outlook. The agency also lowered its ratings for core subsidiary Eastern Gas Transmission and Storage Inc. and assigned a stable outlook.

“On Nov. 20, 2023, we revised the group status assessment for most of BHE's core subsidiaries, including EEGH. Given BHE's recent disclosure that its support for PacifiCorp is effectively limited to PacifiCorp suspending its dividends and our view that PacifiCorp will depend on further external debt to fund its expected cash stockpile, we do not believe BHE will provide extraordinary support to its subsidiaries under all foreseeable circumstances and believe that extraordinary support will be limited under certain circumstances. Therefore, we revised downward our group status assessments for most of BHE's subsidiaries,” S&P said in a statement.

The stable outlook reflects BHE’s stable outlook.

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