Fitch: NuStar view negative

Fitch Ratings said it revised the outlook for NuStar Energy LP's subsidiaries NuStar Logistics, LP and Kaneb Pipe Line Operating Partnership, LP to negative from stable.

The action follows an announcement that NuStar agreed to buy Citgo Asphalt Refining Co.

NuStar Logistics and Kaneb have long-term issuer default and senior unsecured debt ratings of BBB-.

The revision results from the greater volatility in financial performance associated with Carco's asphalt refining operations compared with NuStar's existing low-risk pipeline and terminal assets, according to Fitch.

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