Summary: Deer Park Refining L.P. Aug 04
- ID: 1829297
- August 2004
- Standard & Poors
Standard & Poor's Ratings Services affirmed its 'A' rating on Deer Park Refining L.P.'s senior unsecured debt and its 'A-1' rating on the company's commercial paper. The affirmation follows Standard & Poor's regular surveillance process. Shell Oil Co. (AA+/Negative/A-1+) and PMI Norteamerica S.A. de C.V. (PMI), a subsidiary of Petroleos Mexicanos (PEMEX; foreign currency BBB-/Stable/--), formed Deer Park Refining L.P. in February 1993 to own, operate, and upgrade the fuels refinery portion of Shell Oil's 1,600-acre integrated refinery and petrochemical facility in Deer Park, Texas. The refinery's crude processing capacity is 340,000 barrels per day (bpd) and its coking capacity is 88,000 bpd. U.S. refineries suffered from weak refining margins in 2002, but margins rebounded sharply in 2003, and this...
Companies mentioned in this report are:
- Deer Park Refining L.P.
- Shell Oil Co.
- Petroleos Mexicanos
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