Bulletin: Dominion Resources' Sale Of Its Last Natural Gas Exploration And Production Unit Doesn't Affect Ratings - S&P Global Ratings’ Credit Research

Bulletin: Dominion Resources' Sale Of Its Last Natural Gas Exploration And Production Unit Doesn't Affect Ratings

Bulletin: Dominion Resources' Sale Of Its Last Natural Gas Exploration And Production Unit Doesn't Affect Ratings - S&P Global Ratings’ Credit Research
Bulletin: Dominion Resources' Sale Of Its Last Natural Gas Exploration And Production Unit Doesn't Affect Ratings
Published Mar 15, 2010
847 words — Published Mar 15, 2010
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Abstract:

NEW YORK (Standard&Poor's) March 15, 2010—Standard&Poor's Ratings Services said today that its ratings and outlook on Dominion Resource Inc. (A-/Stable/A-2) are not affected following the announcement of an agreement to sell the company's remaining natural gas exploration&production (E&P) business to Consol Energy Inc. (BB+/Watch Neg/--). The sale could be credit-accretive depending on how the company employs the proceeds. The elimination of the relatively small E&P operations and attendant commodity exposure will have a mildly confirmatory impact on Dominion's 'excellent' business profile. Decisions on investing the expected $2.2 billion - $2.4 billion of after-tax proceeds will influence forecasted credit metrics and our opinion on management's regard for credit quality.

  
Brief Excerpt:

RESEARCH Bulletin: Dominion Resources' Sale Of Its Last Natural Gas Exploration And Production Unit Doesn't Affect Ratings Publication date: 15-Mar-2010 Primary Credit Analyst: Todd A Shipman, CFA, New York (1) 212-438-7676; todd_shipman@standardandpoor...

  
Report Type:

Bulletin

Ticker
DNIRE
Issuer
Dominion Energy, Inc.
GICS
Multi-Utilities (55103010)
Sector
Global Issuers, Structured Finance
Country
United States
Region
United States
Format:
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Summary: Dominion Resources Inc. – 2010/08/24 – US$ 225.00

Dominion Resources Inc. – 2011/02/23 – US$ 500.00

Summary: Dominion Resources Inc. – 2011/02/23 – US$ 225.00

Summary: Dominion Resources Inc. – 2011/08/24 – US$ 225.00

Summary: Dominion Resources Inc. – 2012/01/26 – US$ 225.00

Dominion Resources Inc. – 2010/02/25 – US$ 500.00

Summary: Dominion Resources Inc. – 2010/02/25 – US$ 225.00

Summary: Dominion Resources Inc. – 2009/08/20 – US$ 225.00

Dominion Resources Inc. – 2009/02/24 – US$ 500.00

Summary: Dominion Resources Inc. – 2009/02/24 – US$ 225.00

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Dominion Resources' Sale Of Its Last Natural Gas Exploration And Production Unit Doesn't Affect Ratings" Mar 15, 2010. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Dominion-Resources-Sale-Of-Its-Last-Natural-Gas-Exploration-And-Production-Unit-Doesn-t-Affect-Ratings-781980>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Dominion Resources' Sale Of Its Last Natural Gas Exploration And Production Unit Doesn't Affect Ratings Mar 15, 2010. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Dominion-Resources-Sale-Of-Its-Last-Natural-Gas-Exploration-And-Production-Unit-Doesn-t-Affect-Ratings-781980>
  
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