S&P lowers Keyera

S&P said it downgraded Keyera Corp. and the rating on its senior unsecured notes to BBB- from BBB as well as the rating on its subordinated notes to BB from BB+.

“In the context of a sharp decline in commodity prices, many western Canadian producers have scaled back their drilling activity and growth initiatives. We expect this will result in a decline in forecast volumes and EBITDA for Keyera from our previous forecast,” said S&P in a press release.

The outlook is stable.

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