News Column

Fitch: U.S. Natural Gas Pipeline Sector Well-Guarded Against Price and Volume Volatility

August 26, 2014



CHICAGO--(BUSINESS WIRE)-- Fitch Ratings' credit outlook for U.S. natural gas pipelines remains stable as the predominance of capacity-reservation contracts limits any negative effects from commodity price and volume volatility, as discussed in Fitch's U.S. Natural Gas Pipelines Dashboard.

The main risk for natural gas pipelines is recontracting, particularly in light of the compressed basis spreads and shifting U.S. supply/demand dynamics. Fitch notes that most pipeline issuers in its ratings portfolio have medium- to longer term contract expirations, so the risk is more of a longer-term, rather than immediate-term one.

The full 'U.S. Natural Gas Pipelines Dashboard' is available at 'www.fitchratings.com' or by clicking on the link.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research: U.S. Natural Gas Pipelines Dashboard

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=765208

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.



Fitch Ratings

Peter Molica, +1 212-908-0288

Senior Director

Fitch Ratings, Inc.

33 Whitehall St.

New York, NY 10004

or

Media Relations:

Brian Bertsch, +1 212-908-0549

brian.bertsch@fitchratings.com

Source: Fitch Ratings


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