Moody's reviews Explorer Pipeline

Moody's Investors Service said it placed the P-1 short-term commercial paper rating of Explorer Pipeline Co. on review for downgrade.

The review reflects the combination of increased financial leverage at Explorer following it's acquisition of Eagle Pipeline in 2007 and weaker-than-expected credit metrics caused by lower throughput volume in 2008 due to volatility in petroleum pricing and weather-related disruptions, according to the agency.

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