May. 29 at 11:36 PM
Moody’s upgraded EQT Corp.’s outlook to positive from stable while affirming its Baa3 senior unsecured debt ratings. The agency cited EQT’s rapid deleveraging following its 2024 Equitrans Midstream acquisition, with the company cutting about
$8 billion in debt through asset sales, joint ventures, and free cash flow generation. EQT is nearing its long-term debt target of
$5 billion and is expected to continue reducing leverage thanks to strong cash flow and moderate capital spending.
Moody’s said EQT benefits from its scale as one of North America’s largest natural gas producers, low-cost operations, and vertical integration advantages from Equitrans. The company is positioned to generate free cash flow even in a weak natural gas price environment and could gain additional upside from LNG supply and tolling agreements tied to international pricing starting around 2030.
$EQT