Moody’s Cuts Debt Ratings on Williams
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Moody’s Investors Service cut Williams Cos.’ credit rating on about $13 billion in debt to six levels below investment grade because of concern the energy company will have difficulty generating cash to meet its obligations.
Poor energy market conditions will limit revenue at the second-biggest U.S. owner of natural-gas pipelines, and the company will have difficulty reaching its goals for cash flow and capital spending next year, Moody’s said.
Shares of Tulsa, Okla.-based Williams rose 25 cents to $2.93 on the NYSE.
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