- Language: English
- Published: April 2012
Summary: LOOP LLC Apr 11
- ID: 1718255
- April 2011
- Standard & Poors
Standard & Poor's Ratings Services' ratings on LOOP LLC reflect the company's dominant market position as the sole offshore oil port operator for deep-draft oil tankers in the Gulf of Mexico, and its relatively stable and predictable cash flows. LOOP's importance to its owners' daily operations and its throughput and deficiency (T&D) agreements with them further strengthen its credit profile. Weaknesses include the longer-term threat of increasing Canadian crude volumes that could impair LOOP's strategic importance, some competitive pressures from lightering, and LOOP's vulnerability to occasional operating disruptions during hurricane season. As of Dec. 31, 2010, LOOP had approximately $561.7 million in debt, adjusted for operating leases and postretirement benefit obligations. LOOP's business profile is excellent. LOOP owns and operates...
Companies mentioned in this report are: LOOP LLC,BP PLC,Shell Oil Co.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
LOOP LLC,BP PLC,Shell Oil Co.