Moody's: Plains unchanged

Moody's Investors Service said it views the announced acquisition of BP's Canadian natural gas liquids business as neutral to Plains All-American Pipeline LP's Baa3 rating and stable outlook.

The acquisition is neutral to Plains' credit profile as it enhances the company's business profile while the associated increase in leverage is well within the bounds of Plains' Baa3 senior unsecured rating, Moody's said.

The company's leverage decreased considerably this year because the anticipated acquisitions were pre-funded with equity, the agency said.

© 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.