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Action items: Mississippi Power, Oncor, Chesapeake Energy win upgrades


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Action items: Mississippi Power, Oncor, Chesapeake Energy win upgrades

S&P Global Market Intelligence presents a periodic rundown of selected ratings actions on U.S. energy companies. The changes, confined to upgrades, downgrades and changes in outlook, are listed by announcement date in reverse chronological order.

March 14

* S&P Global Ratings raised Mississippi Power Co.'s long-term issuer credit rating to A- from BBB+ and stand-alone credit profile to bbb from bb+, with a negative outlook.

March 12

* Oncor Electric Delivery Co. LLC earned upgrades from rating agencies, sweetening the end of its long journey of finding a new owner.

March 9

* S&P Global Ratings revised its ratings outlooks on Vectren Corp. and subsidiaries Vectren Utility Holdings Inc., Southern Indiana Gas and Electric Co. Inc. and Indiana Gas Co. Inc. to negative from stable.

* S&P Global Ratings lowered Westmoreland Coal Co.'s credit rating to CCC- from CCC, citing a potential default or restructuring within six months after the company disclosed "substantial doubt" to its ability to comply with its covenants during the year ending Sept. 30.

March 5

* S&P Global Ratings revised its ratings outlooks on OGE Energy Corp. and Oklahoma Gas and Electric Co. to negative from stable on weaker financial measures.

* Chesapeake Energy Corp.'s campaign to stop spending more cash than it takes in from operations bore some positive fruit with an across-the-board, one-notch credit upgrade by S&P Global Ratings.

March 2

* Moody's placed QEP Resources Inc.'s ratings under review for downgrade following the company's announcement that it plans to divest its Williston and Uinta basin assets and pursue a $1.25 billion share repurchase program.

S&P Global Market Intelligence and S&P Global Ratings are owned by S&P Global Inc.