Research Update: Cheniere Energy Partners L.P. Is Assigned 'B+' Corporate Credit Rating; Outlook Stable Aug 12
- Language: English
- Published: August 2012
Standard & Poor's Ratings Services bases its rating on Cheniere Energy Partners L.P. (CQP) on a consolidated approach to CQP and its general partner parent CEI. The rating reflects a "fair" business risk profile and an "aggressive" financial risk profile under our criteria. The fair business risk profile reflects our expectation of stable cash flows from CQP's Sabine Pass LNG L.P. (SPLNG) regasification terminal, its more substantial future cash flows from its Sabine Pass Liquefaction (SPL) export terminal once completed, and our expectation that CQP may seek to grow through drop-downs from its parent and additional project development in the meantime. Both of CQP's subsidiary liquefied natural gas (LNG) projects rely primarily on long-term, take-or-pay capacity-based fee contracts with creditworthy...
Companies mentioned in this report are:
- Cheniere Energy Partners L.P
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >