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S&P changes Express Pipeline view
S&P said it affirmed its BBB+ rating on Express Pipeline LP's $110 million senior debt due 2020 and revised the outlook to negative from stable.
The agency said the rating on the debt reflects the rating and outlook of Spectra Energy Partners, LP.
The outlook change reflects a recent Federal Energy Regulatory Commission ruling regarding the treatment of U.S. tax reform changes, the agency said.
“We cap the debt ratings on the project according to the ratings on SEP, which may decline, as reflected by the negative outlook on the parent,” S&P said in a news release.
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