- Language: English
- Published: August 2012
Summary: DCP Midstream LLC Sep 10
- ID: 1921429
- September 2010
- Standard & Poors
The rating on DCP Midstream LLC reflects the company's satisfactory business risk profile and intermediate financial risk profile. Its strong competitive position within a diverse set of production basins, financial flexibility in a low commodity price environment, and some resilience to weakening commodity prices as evidenced by the company's low break-even commodity price deck support DCP's business risk profile. The company's significant exposure to changing commodity prices and potential cash flow volatility partially offset these strengths. DCP is a joint venture owned 50% by Spectra Energy Corp. (BBB+/Stable/--) and 50% by ConocoPhillips (A/Stable/A-1). DCP's strong competitive position reflects geographic diversity and the significant size and scale of its operations. DCP has a presence in most of the major natural gas...
Companies mentioned in this report are: DCP Midstream LLC
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.
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.
SHOW LESS READ MORE >
DCP Midstream LLC