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Enbridge Energy Partners L.P. Sep 11 Product Image

Enbridge Energy Partners L.P. Sep 11

  • ID: 1927347
  • September 2011
  • Standard & Poors

The stable crude transportation business represents about 73% of 2010 EBITDA; The Lakehead pipeline system has a strong competitive position and supplies about 12% of total U.S. crude oil; Long-term contracts provide significant revenue predictability for the pipelines; and The operational and strategic connection to parent Enbridge Inc. supports credit quality. The natural gas gathering and processing segment contains some commodity price volatility; Recent oil spills highlight operating risks and financial exposure to their associated costs; and Financial metrics are somewhat weak for the rating. Standard & Poor's Ratings Services' ratings on Enbridge Energy Partners L.P. (EEP) reflect a business profile we characterize as strong, which is attributable to the competitive position of its crude pipeline system and the cash...

Companies mentioned in this report are: Enbridge Energy Partners L.P.,Enbridge Inc.,Enbridge Energy L.P.
Action: Review

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: Full Analysis

Enbridge Energy Partners L.P.,Enbridge Inc.,Enbridge Energy L.P.

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