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.
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