• +353-1-416-8900(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Recovery Report: El Paso Corp.'s Recovery Rating Profile Mar 08 Product Image

Recovery Report: El Paso Corp.'s Recovery Rating Profile Mar 08

  • ID: 2025677
  • March 2008
  • Standard & Poors

FEATURED COMPANIES

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

Abstract
Standard & Poor's Ratings Services today retained its issue-level ratings on El Paso Corp.'s and subsidiaries' about $11 billion unsecured debt. The rating on the unsecured debt of El Paso Corp. remains 'BB-', one notch below the corporate credit rating, with a '5' recovery rating. The '5' recovery rating indicates that lenders can expect modest (10%-30%) recovery in the event of a payment default. The unsecured debt ratings of subsidiaries Colorado Interstate Gas Co., El Paso Natural Gas Co., Southern Natural Gas Co., and Tennessee Gas Pipeline Co. were left unchanged at 'BB', the same as the corporate credit rating. In addition, a recovery rating of '3' was assigned, indicating that lenders can expect meaningful (50%-70%) recovery in the event...

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

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

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

Note: Product cover images may vary from those shown

RELATED PRODUCTS