NEW YORK--(BUSINESS WIRE)--Williams Companies' (WMB; rated 'BBB-' with a Positive Rating Watch by Fitch Ratings) rejection of a $53 billion all-equity unsolicited bid to be acquired by Energy Transfer Equity, LP (ETE; rated 'BB' with a Stable Rating Outlook by Fitch) has no immediate impact to current ratings. WMB announced Sunday that it had rejected the offer citing its belief that the offer undervalued the company, but did announce that it would explore a range of strategic alternatives for