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Maritimes & Northeast Pipeline LLC Outlook Revised To Stable From Negative; 'BBB-' Rating Affirmed Jul 12 Product Image

Maritimes & Northeast Pipeline LLC Outlook Revised To Stable From Negative; 'BBB-' Rating Affirmed Jul 12

  • ID: 2177500
  • July 2012
  • Standard & Poors

Abstract
Spain-based energy company Repsol-YPF S.A. (BBB-/Stable/A-3) guarantees a counterparty contract of Repsol Energy North America Corp., which has a contract that represents about 88% of U.S. gas pipeline company Maritimes & Northeast Pipeline LLC's (Maritimes U.S.) capacity and 85% of its revenues. We affirmed our ratings on Repsol on June 22, 2012, and revised the outlook to stable from negative. We are affirming our 'BBB-' corporate credit and senior unsecured ratings on Maritimes US and revising the rating outlook to stable from negative. The stable outlook on Maritimes US is based on our outlook on Repsol-YPF. NEW YORK (Standard & Poor's) July 13, 2012--Standard & Poor's Ratings Services affirmed its 'BBB-' corporate credit and senior unsecured ratings on U.S. gas...

Companies mentioned in this report are:
- Maritimes & Northeast Pipeline LLC

Action: Affirmed

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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