Over the past week over 100 news articles regarding increasing questions in the financial community about the viability of the Atlantic Coast Pipeline (ACP), as well as the Mountain Valley Pipeline, have come to ABRA’s attention. Typical of the comments was one from an analyst writing in Forbes on March 7: “Investors can no longer be entirely sanguine about the possibility that one or both of these projects could be abandoned.”
The Richmond Times-Dispatch reported on March 4 that Moody’s Investor Service had rated the ACP “credit negative” because of mounting costs and uncertainty over the project in the wake of the Fourth Circuit Court of Appeals’ decision not to review a December decision to vacate the U.S. Forest Service permit for the project to cross beneath the Appalachian National Scenic Trail. Moody’s stated: “The appeals court’s decision and the subsequent appeal mean that a longer legal process will ensue, adding costs and uncertainty to when and how the project will be completed.”
Links to the Times-Dispatch and Forbes articles are listed below in In the News.