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S&P puts Southeast Supply on watch
S&P said it placed BBB- issuer credit and issue-level ratings for Southeast Supply Header LLC on CreditWatch with negative implications.
Southeast Supply’s anchor contract representing about 45% of its overall pipeline capacity is set to expire in September 2020.
“We understand that discussions are still ongoing and that the sponsors plan to evaluate the extent of any supportive actions once the contracting outlook is clear; however, at this time no final determinations have been made. As a result, we placed our ratings on SESH on CreditWatch with negative implications,” S&P said in a press release.
The agency said it aims to resolve the placement over the next 90 days.
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