NEW YORK (S&P Global Ratings) July 11, 2023--S&P Global Ratings said today that Dominion Energy Inc.'s (DEI; BBB+/Negative/A-2) announcement that it has executed a definitive agreement to sell its 50% noncontrolling limited partner interest in Cove Point LNG L.P. to Berkshire Hathaway Energy Co. (BHE) for total after-tax proceeds of approximately $3.3 billion is modestly de-levering for DEI's consolidated debt profile. While we view this transaction as consistent with the company's ongoing business review, we expect this sale will only modestly de-lever DEI's consolidated debt profile relative to our financial risk profile expectations at the current ratings. As such, the ratings and outlook on DEI and its subsidiaries are unchanged. The company expects to close on the sale by year-end
