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
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