S&P gives BBB- to Sabine Pass notes

S&P said it assigned its BBB- debt ratings to Sabine Pass Liquefaction LLC's proposed $1 billion senior secured notes due 2027. The outlook is stable.

“The credit driver for the recent upgrade is an improvement in the construction phase stand-alone credit profile (SACP) of one notch to bbb- from bb+, based on our conclusion that construction funding sources exceed needs in our construction phase downside case,” said S&P credit analyst Terry Pratt in a news release.

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