Williams may be planning to sell its 47-unit TravelCenters network.
According to the Oil Price Information Service, Williams President and Chief Operating Officer Bill Hobbs hinted that the drop in energy company stocks following the Enron scandal could hasten some major changes.
OPIS suggests that Williams will probably have to shed some assets in order to maintain a “solid investment grade” status among credit rating services. Moody’s last month decided to review the company’s credit rating for a possible downgrade, and Standard & Poors also put some of Williams’ debt on its watch list.
As a result, Williams has been identifying assets for potential sale. Both the TravelCenters network and Williams’ ethanol operations have been publicly mentioned as likely candidates.
According to the Oil Price Information Service, Williams President and Chief Operating Officer Bill Hobbs hinted that the drop in energy company stocks following the Enron scandal could hasten some major changes.
OPIS suggests that Williams will probably have to shed some assets in order to maintain a “solid investment grade” status among credit rating services. Moody’s last month decided to review the company’s credit rating for a possible downgrade, and Standard & Poors also put some of Williams’ debt on its watch list.
As a result, Williams has been identifying assets for potential sale. Both the TravelCenters network and Williams’ ethanol operations have been publicly mentioned as likely candidates.
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