US CREDIT-Williams restructuring may hurt bond values

Newswire

By Karen Brettell NEW YORK, Jan 25 (Reuters) - Williams Cos Inc restructuring of its pipeline and processing operations will leave its bondholders more exposed to fluctuating commodity prices as they lose coverage from the company's higher quality and more stable assets. The move could also be followed by a number of similar restructurings from other companies in the sector, such as El Paso Corp , which could hurt the value of their debt. Williams said last Tuesday that it would ...

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