Fitch gives Centurion Pipeline loans BB+

Fitch Ratings said it assigned a long-term issuer default rating of BB to Centurion Pipeline Co. LLC.

The agency also assigned a senior secured term loan and revolver rating of BB+/RR1.

The recovery rating reflects expectations of an outstanding recovery in the range of 91% to 100% if there was an event of default, Fitch said.

The outlook is stable.

“Centurion is well positioned in the BB rating given its low leverage, strong credit metrics and stable cash flows,” the agency said in a news release.

“However, its rating is constrained by its small size and lack of geographic diversification.”

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