Moody's may cut Windsor Petroleum notes

Moody's Investors Service said it placed under review for possible downgrade the Baa2 rating of Windsor Petroleum Transport Corp.'s 7.84% term secured notes due 2021.

A small amount of Windsor Petroleum's unamortized senior secured notes, which are rated Aa1 based on the guarantee of BP plc, are not affected by the rating action and are affirmed, the agency said.

The review for downgrade is prompted by BP Shipping Ltd.'s irrevocable notice to Independent Tankers Corp. Ltd. of its intent to terminate the long-term time charter of the British Pioneer, one of four owned by Independent Tankers and under long-term charter hire to BP Shipping.

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