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BULLETIN: Alliance Pipeline Credit Strength Immune to Changes Among Owners Mar 03
Standard & Poors, March 2003
Abstract
Standard & Poor's Ratings Services said today that various changes and developments among some of the owners of the Alliance Pipeline Limited Partnership (BBB+/stable/-) and Alliance Pipeline L.P. (BBB+/stable/--) do not affect the credit profile of the project. On March 26, 2003, Standard & Poor's placed its rating on Fort Chicago Energy Partners L.P. (BBB/Watch Neg/--) on Credit Watch with negative implications following announcements that it plans to increase its ownership in the pipeline by 11.8% by purchasing half of the interest owned by Westcoast Energy Inc. (A-/Negative/A-2), which is wholly owned by Duke Energy Corp. (A-/Negative/A-2). Separately, Enbridge Inc. (A-/Negative/--) is purchasing the remaining 50% of Westcoast's interest. Fort Chicago and Enbridge had recently bought El Paso Corp.'s (B+/Negative/--)...
Companies mentioned in this report are: Alliance Pipeline Limited Partnership,Duke Energy Corp.,Enbridge Inc.,El Paso Corp.,Alliance Pipeline L.P.,Westcoast Energy Inc.,Veresen Inc.
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.
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