Fitch Ratings, one of the leading firms that provides credit ratings, commentary and economic research, has voiced doubts about the viability of the Mountain Valley Pipeline. In a January 28 issue of its Fitch Wire, the firm stated:
President Joe Biden’s executive order that revoked Keystone XL’s Presidential Permit may be an indicator of his administration’s aversion to long-distance projects in US midstream energy,
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.