Summary: Maritimes & Northeast Pipeline LLC Jun 11

Standard & Poors, June 2011

Abstract
Maritimes & Northeast Pipeline LLC (Maritimes US) is a Delaware-based limited liability company that is operated by a wholly owned subsidiary of Spectra Energy Corp. (BBB+/Stable/--). The company and its Canadian affiliate, Maritimes & Northeast Pipeline Limited Partnership (Maritimes Canada; A/Stable), own distinct portions of a 670-mile underground mainline pipeline extending from the Sable Offshore Energy Project (SOEP) processing plant in Goldboro, Nova Scotia, through New Brunswick Province, Maine, and New Hampshire. The pipeline delivers gas to New England, including the greater Boston area. Maritimes US is the 330-mile portion, running from Baileyville, Maine, to Dracut and Beverly, Mass. The pipeline's total capacity recently increased to 833,317 Dekatherms per day (Dth/d) from about 415,000 Dth/d. The 'BBB' rating reflects the...

Companies mentioned in this report are:
- Maritimes & Northeast Pipeline LLC

Action: Review

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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.

- Maritimes & Northeast Pipeline LLC

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