Williams Cos Inc may be in for a debt upgrade now that much of its WilTel unit is on its way to LDDS Communications Corp: Moody’s Investors Service Inc said it may upgrade the Baa3 senior debt and ‘ba2′ preferred stock ratings of the Tulsa, Oklahoma oil and gas distribution and telecommunications company, and and the Baa2 senior debt ratings of its units. About $1,200m of securities affected. Moody’s will examine the details of the transaction, focussing on Williams’ plans for redeployment of the cash, which appears to be about $1,600m after tax, of which $800m will go to buy in its shares.
