Southwest Gas Holdings Inc. And Southwest Gas Corp. Ratings Remain On CreditWatch Developing On Material Uncertainty

Southwest Gas Holdings Inc. (SWX) recently announced it extended the maturity of the $1.6 billion bridge facility it used to finance its acquisition of MountainWest Pipeline LLC. We believe this will improve the company's liquidity over the next 12 months. Our ratings on SWX and its subsidiary Southwest Gas Corp. (SWG) remain on CreditWatch, where we placed them with developing implications on April 26, 2022. The CreditWatch reflects the material uncertainty around SWX's potential divestiture of its subsidiaries MountainWest Pipeline LLC and Centuri Group Inc., as well as its use of the proceeds from any such sale. DALLAS (S&P Global Ratings) Sept. 30, 2022--S&P Global Ratings today took the rating actions listed above. We assess SWX's liquidity as adequate. Because

...September 30, 2022 - Southwest Gas Holdings Inc. (SWX) recently announced it extended the maturity of the $1.6 billion bridge facility it used to finance its acquisition of MountainWest Pipeline LLC. We believe this will improve the company's liquidity over the next 12 months. - Our ratings on SWX and its subsidiary Southwest Gas Corp. (SWG) remain on CreditWatch, where we placed them with developing implications on April 26, 2022. - The CreditWatch reflects the material uncertainty around SWX's potential divestiture of its subsidiaries MountainWest Pipeline LLC and Centuri Group Inc., as well as its use of the proceeds from any such sale. DALLAS (S&P Global Ratings) Sept. 30, 2022--S&P Global Ratings today took the rating actions listed above. We assess SWX's liquidity as adequate. Because the company extended the maturity of its $1.6 billion bridge facility for another 12 months (now maturing Dec. 30, 2023), we assess its liquidity as adequate. Under our base-case forecast, we assume...

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