Fitch Lowers Ratings For Williams Partners LP

SIOUX FALLS, S.D. (AP) — Fitch Ratings on Tuesday said it has downgraded the issuer default and senior unsecured debt ratings for Williams Partners LP, noting the global recession and drop in demand and prices for natural gas liquids has significantly reduced the company's profitability.

Fitch downgraded the issuer default rating for the partnership, which owns natural gas sector properties, and its Williams Partners Finance Corp. to "BB" from "BB+" and its $750 million senior unsecured debt to "BB" from "BB+." The rating outlook is "Stable."

Fitch said the changing economic conditions have resulted in weakening credit measures and lower distributable cash flow for Williams Partners, Tulsa, Okla. ...