S&P trims Westcoast Energy

Standard & Poor's said it lowered its ratings on Westcoast Energy Inc., including its long-term corporate credit rating to BBB from BBB+.

The outlook is stable.

At the same time, S&P removed the ratings from CreditWatch, where they were placed with negative implications June 17.

"The downgrade reflects today's downgrade to parent Spectra Energy Corp., to BBB from BBB+," said S&P credit analyst Gerry Hannochko in a news release.

The downgrade on Spectra reflects the drop-down of assets to its U.S. master limited partnership subsidiary, Spectra Energy Partners LP, the agency said.

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