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.
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