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S&P rates Gibson Energy BBB-
S&P said it assigned a BBB- rating to Gibson Energy Inc. and withdrew the BBB- rating on Gibson Energy ULC. The BBB- rating on Gibson’s senior unsecured debt is unchanged.
“With the sale of almost all of its non-core assets, and the subsequent reinvestment of proceeds into its core tankage and pipelines, Gibson has effectively altered the cash generation characteristics of its business, which in our opinion, now exhibits improved predictability and stability,” S&P said in a press release.
The outlook is stable.
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