We expect U.S. oil refiner Motiva Enterprises LLC to benefit from relatively favorable market conditions over the next two years. Port Arthur will also contribute significantly to cash flow when it becomes fully operational in 2012. We are affirming the 'A' corporate credit and senior unsecured ratings on Motiva. We are revising the rating outlook to stable from negative. On May 16, 2011, Standard & Poor's Ratings Services revised its outlook on Motiva Enterprises LLC. to stable from negative. At the same time, we affirmed our 'A' corporate credit rating on Motiva, and affirmed the 'A' senior unsecured rating. Motiva's financial performance is benefitting from favorable refining margins as well as from widening price differentials between heavy and light crude...
Companies mentioned in this report are: Motiva Enterprises LLC,Royal Dutch Shell PLC
Action: Outlook: Stable
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