Moody’s rates Rockies Express notes Ba1

Moody’s Investors Service said it assigned a Ba1 rating to Rockies Express Pipeline LLC’s proposed senior unsecured notes. Rockies’ other ratings, including its Ba1 corporate family rating and stable outlook are unchanged. The Ba1 rating on the existing $2 billion senior unsecured notes is also unchanged.

The notes are being offered to refinance $750 million senior unsecured notes due in April 2020.

The proposed unsecured notes, along with Rockies’ existing unsecured notes, are rated Ba1, the same as the company’s CFR. The senior unsecured notes are rated at the same level as the CFR because the company’s long-term debt, which includes a $150 million revolver, is all unsecured.

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