|
|
 |
|
Viewing report
|
|
|
|
BULLETIN: Excel Paralubes Credit Profile Is Neutral to Shell Oil Divestiture Apr 03
Standard & Poors, April 2003
Abstract
NEW YORK (Standard & Poor's) April 24, 2003--Standard & Poor's Ratings Services said that Shell Oil Co.'s (AAA/Stable/A-1+) announcement yesterday that it has entered into an agreement to sell its 50% interest in Excel Paralubes to Flint Hills Resources LLC, (A+/Stable/A-1), a wholly-owned subsidiary of Koch Industries Inc. (AA+/Stable/A-1+), will have no effect on the credit profile of Excel Paralubes Funding Corp. (Excel Paralubes Funding Corp. is the subsidiary funding vehicle for Excel Paralubes that issued the project debt). ConocoPhillips Co. (A-/Stable/NR), which is a wholly owned subsidiary of ConocoPhillips (A-/Stable/A-2), still retains the remaining 50% interest in the project. Last year when Shell Oil purchased Pennzoil-Quaker State Co., which held a 50% interest in the project, Shell entered into...
Companies mentioned in this report are: Excel Paralubes Funding Corp.,ConocoPhillips Co.,Shell Oil Co.,Koch Industries Inc.,Flint Hills Resources LLC
Action: S&P Event
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.
|
|
|
|
