High percentage of contracted storage capacity Close proximity of facilities to highly liquid natural gas trading markets Leading share in the Alberta and northern California natural gas storage markets High debt levels Potential large working-capital requirements Exposure to contract renewal and market pricing risk The ratings on Alberta-based Niska Gas Storage Partners LLC reflect Standard & Poor's Ratings Services' assessment of the company's leveraged balance sheet, exposure to contract renewal risk and market pricing risk, the potential large working-capital and liquidity requirements of its optimization program, and Niska's master limited partnership (MLP) structure. In our view, offsetting these weaknesses are the company's market leading storage capacity in the Western Canadian Sedimentary Basin and Northern California; consistent adherence to its target...
Companies mentioned in this report are: Niska Gas Storage Partners LLC
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