S&P lifts Plains All American

Standard & Poor's said it raised the corporate credit rating on Plains All American Pipeline LP to BBB from BBB-, along with its senior unsecured debt rating to BBB.

The outlook is stable.

The upgrades reflect the company's improved credit profile, resulting from increasing size and asset diversity, growing fee-based activities and strong financial performance, S&P said.

The partnership has steadily increased its scale, geographic footprint and diversity of its assets through organic capital spending projects and acquisitions that have been closely aligned with its core competencies, the agency said, and funded in a balanced manner.

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