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Bulletin: Explosion At DCP Midstream LLC's East Texas Facility Does Not Affect Ratings Feb 09
Standard & Poors, Feb 2009
Abstract
NEW YORK (Standard & Poor's) Feb. 11, 2009--Standard & Poor's Ratings Services said today that DCP Midstream LLC's (DCP; BBB+/Negative/A-2) report of an explosion and fire near its East Texas gas processing facility will not affect the ratings or outlook on DCP at this time. The company immediately shut down its plant and all feeder pipelines to the plant. It is unclear whether the explosion occurred on a DCP-owned or third-party facility, and how long the plant may be shut down. However, we believe the effect of the plant outage on DCP's cash flows will be limited, as the plant's capacity is a small part of DCP's overall throughput (about 6.8 trillion Btu/day). The East Texas facility, which has processing...
Companies mentioned in this report are: DCP Midstream LLC
Action: Bulletin
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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