Kinder Morgan (KMI) Ratings Affirms by S&P Following Diced Dividend
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Moody's Lifts Outlook on Kinder Morgan (KMI) to Stable Following Chopped Dividend
December 9, 2015 11:50 AM ESTMoody's Investors Service (Moody's) changed Kinder Morgan Inc.'s (NYSE: KMI) outlook to stable from negative and affirmed its Baa3 senior unsecured and Prime-3 commercial paper ratings. A complete list of Moody's rating actions is below.
On December 8, KMI announced that would reduce its annual dividend to $1.1 billion from about $4.4 billion and reduce its targeted ratio of net debt to EBITDA to 5.5x from 5.6x.
"The change in outlook to stable reflects the very significant change Kinder Morgan has made to its dividend policy, slashing its 2016 dividend by 75% and thereby eliminating its... More
Fitch Affirms Ratings on Kinder Morgan (KMI) Amid Dividend Cut
December 9, 2015 10:39 AM ESTFitch Ratings has affirmed its 'BBB-' Issuer Default Rating (IDR) and senior unsecured ratings on Kinder Morgan, Inc. (NYSE: KMI) and its subsidiaries, following KMI's announcement of its change in dividend policy. KMI will cut its dividend to focus on retaining cash to help stabilize its balance sheet and fund what remains a robust capital spending backlog. Additionally, Fitch has affirmed its 'F3' short-term IDR and commercial paper (CP) rating on KMI. A full list of rating actions is available at the end of this release.
The Rating Outlook is... More
