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Summary: Cheniere Energy Inc. Mar 12
Standard & Poors, March 2012
The 'B-' corporate credit rating on Houston-based energy company Cheniere Energy Inc. reflects its weak business risk profile and highly leveraged financial risk profile. We upgraded the company's rating in February 2012 to 'B-' from 'CCC+' to reflect the company's improved capital markets access to support continuing operations and address future debt maturities, as evidenced by its $331 million December 2011 equity issuance, its January 2012 repayment of $298 million in term loans due in May 2012, and its subsequent announcement in February 2012 of arrangements to execute a $2 billion subordinated unit sale to Blackstone. We believe Cheniere's improved access is driven by significant progress on the company's liquefaction project at subsidiary Sabine Pass Liquefaction LLC. Specifically, the execution...
Companies mentioned in this report are: Cheniere Energy Inc.
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Cheniere Energy Inc.