- Language: English
- Published: December 2012
- Region: Canada
Summary: Maritimes & Northeast Pipeline L.P. Feb 12
- Published: February 2012
- Standard & Poors
Maritimes & Northeast Pipeline L.P.(Maritimes-Canada) and Maritimes & Northeast Pipeline LLC (Maritimes-U.S.; BBB/Stable/--) own the Canadian and U.S. portions of a 684-mile mainline underground natural gas pipeline extending from the Sable Offshore Energy Project (SOEP) processing plant in Goldboro, Nova Scotia, through New Brunswick Province, Maine, and New Hampshire. The pipeline delivers gas to markets in Atlantic Canada and the northeastern U.S., including New England and the greater Boston area. The owners of the Maritimes & Northeast system are Spectra Energy Corp. (77.5%; BBB+/Stable/--), Emera Inc. (12.9%; BBB+/Stable/--), and ExxonMobil Corp. (9.6%, AAA/Stable/A-1+). Despite the physical interconnection between Maritimes-Canada and Maritimes-U.S. and identical ownership, the debt agreements do not contain cross-collateralization provisions and have different security packages. Maritimes-Canada's C$260 million...
Companies mentioned in this report are: Maritimes & Northeast Pipeline L.P.
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Maritimes & Northeast Pipeline L.P.