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Southern Natural Gas Co. Jul 08 Product Image

Southern Natural Gas Co. Jul 08

  • ID: 2025532
  • July 2008
  • Standard & Poors

FEATURED COMPANIES

  • Coastal Natural Gas Co.
  • El Paso Holdco LLC
  • El Paso Natural Gas Co.
  • Southern Natural Gas Co.
  • MORE

Abstract
Supportive regulation; Stable revenue stream; and Ample storage capacity which provides flexibility and competitive advantage. Weak credit quality of parent El Paso Corp. and the possibility that Southern Natural Gas Co. could be leveraged to support the parent; Increased focus on shareholder value creation of parent El Paso; Low gas usage in southern U.S. tempering demand; and Competition from cost-competitive electric utilities for home-heating. Southern Natural Gas Co. (SNG) is an affiliate of El Paso Corp. (BB/Stable/--), the largest natural gas pipeline company in North America. The ratings on Houston-based El Paso and its subsidiaries, including SNG, are based on our consolidated credit methodology, resulting in the same corporate credit rating for the holding company and each of its subsidiaries....

Companies mentioned in this report are:
- Southern Natural Gas Co.
- Colorado Interstate Gas Co.
- El Paso Natural Gas Co.
- El Paso Tennessee Pipeline Co.
- Tennessee Gas Pipeline Co.
- El Paso Holdco LLC
- Coastal Natural Gas Co.
- El Paso Exploration & Production Co.

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

- Southern Natural Gas Co.
- Colorado Interstate Gas Co.
- El Paso Natural Gas Co.
- El Paso Tennessee Pipeline Co.
- Tennessee Gas Pipeline Co.
- El Paso Holdco LLC
- Coastal Natural Gas Co.
- El Paso Exploration & Production Co.

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