S&P affirms NuStar; outlook stable

Standard & Poor's said it affirmed its ratings, including the BBB- corporate credit rating, on NuStar Energy LP.

At the same time, the agency said it revised the outlook to stable from negative.

"The outlook revision reflects its increased confidence that the partnership will keep financial leverage within acceptable levels for the BBB- rating," said S&P credit analyst David Lundberg.

The agency said it has always considered asphalt refining, which will constitute about 20% of NuStar's overall 2009 EBITDA, to be highly volatile.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.