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S&P revises North West Redwater view to negative
S&P said it revised the outlook for North West Redwater Partnership to negative from stable and affirmed its BBB+ rating on the partnership’s senior secured debt.
“The negative outlook reflects that on one of the project's material counterparties, Alberta, given the credit substitution under the tolling agreements. The outlook also reflects our expectation that the project will continue to receive support from Alberta, given its importance to the province.” S&P said in a press release.
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