S&P puts Inter Pipeline on watch

S&P said it placed its Inter Pipeline (Corridor) Inc. ratings on CreditWatch with negative implications.

The placement reflects a similar action on Corridor’s largest shipper, Canadian Natural Resources Inc. on Jan. 26, the agency said.

“Given that CNRL represents 70% of Corridor’s contracted capacity, the pipeline’s credit quality is inherently linked to that of CNRL, which continues to deteriorate because of weakness and volatility in the oil and gas markets,” S&P said in a press release.

The agency plans to resolve the CreditWatch within 90 days.

© 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.