TransCanada to buy Columbia Pipeline Group for $10.2 billion
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Moody's Affirms Ratings on TransCanada (TRP) Amid Columbia Pipeline (CPGX) Deal; Outlook Stable
March 18, 2016 11:23 AM EDTMoody's Investors Service affirmed the A3 senior unsecured ratings for TransCanada Pipelines Limited (TCPL) (NYSE: TRP) and the Baa1 issuer rating for TCPL's parent, TransCanada Corporation (TransCanada). The rating outlooks for both companies are stable. For a list of actions, see below. The rating affirmation follows TransCanada Corporation's announcement that it agreed to acquire Columbia Pipeline Group, Inc. (CPG: Baa2 /stable) for US$13.0 billion, including the assumption of US$2.8 billion of debt. At the same time, TransCanada announced its plans to divest its 4.5GW portfolio of US Northeast Power assets and a minority... More
Jefferies Downgrades Columbia Pipeline Group (CPGX) to Hold Following Takeover
March 18, 2016 6:54 AM EDTJefferies downgraded Columbia Pipeline Group (NYSE: CPGX) from Buy to Hold with a price target of $25.50 after the company agreed to be acquired by TransCanada.
For an analyst ratings summary and ratings history on Columbia Pipeline Group... More
Credit Suisse Upgrades Columbia Pipeline Partners, L.P. (CPPL) to Outperform
March 18, 2016 6:36 AM EDTCredit Suisse upgraded Columbia Pipeline Partners, L.P. (NYSE: CPPL) from Neutral to Outperform with a price target of $23.00 after TransCanada Corporation (NYSE: TRP) entered into an agreement to acquire Columbia Pipeline Group (NYSE; CPGX).
For an... More
