Moody's: Rockies Express view negative

Moody's Investors Service said it changed the outlook for Rockies Express Pipeline LLC to negative from stable.

The Ba1 corporate family rating and senior notes rating were affirmed.

"The negative outlook for Rockies Express reflects high leverage and the potential for earnings declines in late 2014 when about 10% of its capacity is likely to require re-contracting," Moody's vice president Pete Speer said in a news release. "With the recent acquisition by Tallgrass Energy Partners and the uncertainties regarding Rockies Express' earnings power post 2019, leverage reduction is necessary to support Rockies Express' existing ratings."

© 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.