BULLETIN: Fort Chicago Energy Partners L.P. Rating Unaffected By Aux Sable Marketing Agreement Jan 06
- ID: 2039126
- January 2006
- Standard & Poors
TORONTO (Standard & Poor's) Jan. 20, 2006--Standard & Poor's Ratings Services today said the ratings and outlook on Fort Chicago Energy Partners L.P. (the partnership; BBB/Stable/--) would not be affected by the Aux Sable facilities' proposed marketing agreement with BP Products North America, Inc. (BP). The partnership owns a 42.7% interest in Aux Sable. Although the agreement is positive for Fort Chicago as it will raise the floor under Aux Sable's cash flows, Aux Sable's contribution to Fort Chicago's overall cash flows will remain relatively small, thereby not materially affecting the partnership's consolidated business or financial profile. Under the initial 20-year agreement, BP will purchase all of the natural gas liquids product produced by Aux Sable and in return, pay...
Companies mentioned in this report are: Veresen Inc.
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