Dominion Resources Inc. announced the acquisition of Questar Corp. for about $6 billion, which includes about $1.6 billion of assumed debt. The transaction is expected to close in about 12 months. We are revising our assessment of the company's financial policy modifier to negative from neutral. This reflects our expectations that Dominion will continue to pursue growth related acquisitions at a faster pace than peers. We are lowering our issuer credit rating on Dominion Resources and its subsidiaries Virginia Electric&Power Co. and Dominion Gas Holdings LLC to 'BBB+' from 'A-'. We are lowering the senior unsecured debt and junior subordinated debt at Dominion Resources one notch to 'BBB' and 'BBB-'. At the same time, we are lowering the
