- Published: May 2012
- Region: United States
El Paso Corp.'s $3 Billion Shelf Is Rated; Company Looks to Strengthen Financial Profile Feb 02
- Published: February 2002
- Standard & Poors
NEW YORK (Standard & Poor's) Feb. 11, 2002--Standard & Poor's said today that it assigned its triple-'B'/triple-'B'-minus/triple-'B'-minus to gas pipeline operator El Paso Corp.'s (BBB+/Stable/A-2) $3 billion universal shelf registration of senior unsecured notes, junior subordinated debt, preferred stock that may be issued by El Paso Capital Trust II and/or El Paso Capital Trust III. El Paso filed its universal shelf on Feb. 8, 2002. The outlook is stable. Houston, Texas-based El Paso Corp. is North America's biggest natural gas pipeline operator and has about $17 billion in debt. According to credit analyst William Ferara, "Standard & Poor's rating expectations for the consolidated entity are based in part on El Paso's stated intention to strengthen its financial profile and simultaneously...
Companies mentioned in this report are: El Paso Corp.,Colorado Interstate Gas Co.,El Paso Natural Gas Co.,ANR Pipeline Co.,Southern Natural Gas Co.,Tennessee Gas Pipeline Co.
Action: New Rating
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.
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El Paso Corp.,Colorado Interstate Gas Co.,El Paso Natural Gas Co.,ANR Pipeline Co.,Southern Natural Gas Co.,Tennessee Gas Pipeline Co.