| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers P > Headlines for PMI Norteamerica SA de CV > News item |
S&P lowers Deer Park
Standard & Poor's said it lowered the corporate credit rating on Deer Park Refining LP to BBB from A.
The agency also said it removed the rating from CreditWatch, where it was placed with negative implications in November.
The agency also said it lowered Deer Park's short-term rating to A-2 from A-1.
The outlook is stable.
The downgrade was based on Deer Park as strategically important to one of its parents, Royal Dutch Shell, S&P said.
Deer Park is a joint venture with Royal Dutch Shell's subsidiary, Shell Oil Co. and PMI Norteamerica SA de CV, the agency said.
S&P said it continues to view Deer Park's stand-alone credit profile at BB, primarily reflecting its fair business risk profile related to exposure to volatile refining markets and significant financial risk profile.
© 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.