TransCanada to buy Columbia Pipeline Group for $10.2 billion
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Go back to TransCanada to buy Columbia Pipeline Group for $10.2 billion
March 18, 2016 11:23 AM EDT
Moody'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
March 18, 2016 6:54 AM EDT
Jefferies 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
March 18, 2016 6:36 AM EDT
Credit 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
