S&P affirms Windsor Petroleum

Standard & Poor's said it affirmed the AA rating on Windsor Petroleum Transport Corp.'s $111.7 million secured serial notes due 2010 and BB+ rating $239.1 million secured term notes due Jan. 15, 2021.

The outlook is stable.

Proceeds will be used to fund a portion of the construction cost of four very large crude oil carriers.

"The stable outlook on Windsor's $111.7 million notes reflects the credit quality of BP plc, the sole provider of cash flows for the project through the initial charter period," S&P analyst Mark Habib said in a statement.

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