S&P ups LOOP view to positive

S&P Global Ratings said it affirmed its BBB corporate credit rating and A-2 short-term rating on LOOP LLC. S&P also revised the outlook to positive from stable.

In addition, S&P affirmed the BBB issue-level ratings on LOOP's senior unsecured debt.

“We base the outlook revision on LOOP's improving revenue diversity and lower leverage. LOOP continues to reduce its debt balance by repaying approximately $20 million per year. At the same time, LOOP is diversifying its revenue base by expanding its storage business, which we expect to account for about a third of revenues in 2017,” S&P said in a news release.

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