- Language: English
- Published: December 2012
- Region: Indonesia
Research Update: CCR And Issue Rating On Targa Resources Partners LP Are Raised To 'BB'
- Published: May 2011
- Standard & Poors
U.S. midstream energy company Targa Resources Partners LP has increased its asset base and cash flow, while maintaining good liquidity and acceptable financial ratios. We are raising our corporate credit rating to 'BB' from 'BB-'. We are also raising our issue rating on the partnership's senior unsecured notes to 'BB' from 'B+' and raising the recovery rating to '4' from '5'. The stable outlook on the ratings reflects our view that Targa will maintain consolidated financial leverage below 4x, increase its fee-based operating margin, and continue to successfully execute its expansion projects. On May 17, 2011, Standard & Poor's Ratings Services raised its corporate credit rating on Targa Resources Partners LP to 'BB' from 'BB-'. The outlook on the rating...
Companies mentioned in this report are: Targa Resources Partners LP,Targa Resources Partners Finance Corp.
Action: Outlook: Stable
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
SHOW LESS READ MORE >
Targa Resources Partners LP,Targa Resources Partners Finance Corp.