News Update: S&P Lifted Questar’s Investment Grade Ratings (STR,QEP), Standard & Poor’s Ratings Service raised its investment-grade ratings on Questar Corp.’s (NYSE:STR) retail-gas distribution and pipeline businesses by two notches to A, with a stable outlook.
The ratings agency expects that the recent spinoff of its exploration and production business should lower risk and capital requirements.
The upgrade ends a review that was started in April as it considered the spinoff of QEP Resources Inc. (NYSE:QEP), which was completed last week.
S&P raised Questar’s short-term ratings by one notch to A-1, which is the second highest grade. Questar is now comprised of subsidiaries Wexpro Co., Questar Pipeline and Questar Gas Co.
The company’s shares are currently trading 0.56% higher at .07.,
