S&P: Plains All American unaffected

Standard & Poor's said Plains All American Pipeline LP's (BBB-/stable) plans to acquire Rainbow Pipe Line Co. Ltd. for C$660 million, including linefill, does not affect ratings or outlook.

Rainbow's crude oil gathering and pipeline assets in Alberta, Canada, complement Plains' stable, credit-supportive crude transportation business, the agency said.

The partnership's debt leverage following the deal and planned investment are expected to remain within levels appropriate for the rating, S&P said, at about 4 times debt to EBITDA.

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