Williams’ Credit Rating Raised a Notch
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Williams Cos., the second-largest U.S. natural gas pipeline company, had its noninvestment-grade credit rating raised a level by Moody’s Investors Service after paying off a $1.17-billion loan. The stock rose to its highest in almost a year.
The rating on $13 billion in Williams’ senior unsecured debt was raised to B2, five levels below investment grade, and the outlook on the credit was changed to “developing” from negative, Moody’s said. The Tulsa, Okla.-based company last week repaid a loan from a group of investors led by Warren Buffett’s Berkshire Hathaway Inc.
Shares of Williams rose 62 cents to $8.58 on the NYSE.
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