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BULLETIN: Fort Chicago Energy Partners L.P. Rating Unaffected By Aux Sable Marketing Agreement Jan 06
Standard & Poors, Jan 2006
Abstract
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.
Action: Bulletin
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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