Fitch affirms Locap

Fitch Ratings said it affirmed Locap LLC's long-term issuer default rating at A-, and its short-term issuer default rating and commercial paper ratings at F2.

The outlook is stable.

Locap's leverage metrics are much lower than its operator LOOP LLC (BBB+/negative) or its midstream peers such as its lower rated peers such ITT Holdings LLC (BBB-/negative) and Buckeye Partners, LP (BBB-/negative), the agency said.

However, Locap is significantly smaller relative to these three comparables, Fitch noted.

© 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.