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DBRS confirms Alliance notes
DBRS said it has confirmed the senior secured notes and senior unsecured notes of Alliance Pipeline Ltd. Partnership at A (low) and BBB (high), respectively, both with stable trends.
The rating is based on strong and predictable cash flow from take-or-pay shipper contracts to service the amortization amount of the debt and interest throughout the contact term, the agency said.
Shipper contacts cover 100% of Alliance's pipeline base capacity and are with strong credit profile shippers, with 89% of the shippers having investment-grade ratings, DBRS said.
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