Moody's lifts Duke Energy Field Services view to stable

Moody's Investors Service said it affirmed Duke Energy Field Services, LLC's Baa2 senior unsecured debt ratings and changed the outlook to stable from negative, which reflects the satisfactory resolution of concerns that triggered the negative outlook last year.

These included concerns about the quality of the company's internal controls, the level of future cash flows and strategic direction following numerous transactions last year that modified its ownership structure and asset base.

Moody's said the company appears to have made sufficient progress in improving its internal controls so that they are no longer an overriding concern in its ratings. Its cash flow is robust, and its credit metrics compare favorably against its peers. The increase in ConocoPhillips Co.'s stake in Duke Energy Field Services to 50% - the other half belonging to subsidiaries of Duke Energy Corp. - has been benign.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.