S&P cuts Rockies Express outlook to negative

Standard & Poor's said it revised the outlook on Rockies Express Pipeline LLC to negative from stable.

The agency also said it affirmed the corporate credit rating on its senior unsecured notes at BBB-.

The outlook revision reflects the narrow basis differentials out of the Rockies region, which will decrease the underlying value of the company's pipeline capacity, S&P said.

This could result in substantially lower cash flow when the contracts expire in about eight years, the agency said.

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