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S&P puts EP Infrastructure on watch
S&P said it placed its BBB ratings on EP Infrastructure and its senior unsecured notes on CreditWatch with negative implications.
The agency downgraded Gazprom to CCC- from BBB- and its ratings placed on negative watch. “This has implications for eustream, the Slovak gas transmission operator (TSO), which is 49% owned by Czech multi-utility company EP Infrastructure (EPIF). Eustream is a key gas corridor for Russian gas into Europe and has direct exposure to Gazprom, from which it generates around 50% of its revenues,” S&P said.
EPIF's creditworthiness could weaken due if the flow of gas is disrupted because of the Russia-Ukraine conflict, S&P said.
S&P said it aims to resolve the CreditWatch within 90 days.
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