Fitch revises Rockies Express view to negative

Fitch Ratings said it revised the outlook for Rockies Express Pipeline LLC to negative from stable and affirmed its BBB- rating.

“The negative outlook is based on uncertainty as to whether only a few small shippers will file for bankruptcy or a large shipper will (or through other means wrest lower rates from Rockie). In the event, bankruptcies are limited to a few small companies, this scenario translates into Rockie keeping its leverage at or below 4.5x, which is the threshold above which there may be a downgrade,” Fitch said in a press release.

© 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.