Fitch Ratings late Friday downgraded Chesapeake Energy Corp.’s issuer default rating (IDR) and senior unsecured ratings to “BB-” from “BB,” cut preferred stock ratings to “B” from “B+” and affirmed the senior secured revolving credit facility at “BBB-.” The IDR is a relative measure of default probability.
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REX Rating Cut on Recontracting Risk
Standard & Poor’s Ratings Services (S&P) lowered its corporate credit and senior unsecured debt ratings on Rockies Express Pipeline LLC (REX) to “BB” from “BBB-” with a “stable” outlook and said the decision was based on compressed basis differentials leading to increased recontracting risk in the years ahead.
January 31, 2012
NGPL Debt Ratings Cut to Junk After Settlement
Moody’s Investors Service last Thursday downgraded the senior unsecured debt ratings of NGPL PipeCo LLC, parent of Natural Gas Pipeline Co. of America (NGPL), to junk status (Ba1) from the lowest investment grade (Baa3) following FERC’s approval of a settlement of allegations that NGPL over-recovered its cost of service.
August 2, 2010
Debt Ratings of NGPL Parent Plunge to Junk After Settlement
Moody’s Investors Service Thursday downgraded the senior unsecured debt ratings of NGPL PipeCo LLC, parent of Natural Gas Pipeline Co. of America (NGPL), to junk status (Ba1) from the lowest investment grade (Baa3) following FERC’s approval of a settlement of allegations that NGPL over-recovered its cost of service.
July 30, 2010
Fitch Downgrades DCP Midstream on Price Exposure
Commodity price exposure dinged the rating on DCP Midstream LLC (DCPM) debt as Fitch Ratings downgraded the company’s senior unsecured debt and Issuer Default Rating (IDR) to “BBB” from “BBB+.” However, the ratings outlook was revised to “stable” from “negative.”
July 6, 2009
Fitch Downgrades DCP Midstream on Price Exposure
Commodity price exposure dinged the rating on DCP Midstream LLC (DCPM) debt as Fitch Ratings downgraded the company’s senior unsecured debt and Issuer Default Rating (IDR) to “BBB” from “BBB+.” However, the ratings outlook was revised to “stable” from “negative.”
July 2, 2009
S&P Sets Cheniere Credit at Junk Rating
Standard & Poor’s Ratings Services (S&P) said it assigned a “B+” rating to the proposed $500 million senior unsecured notes and corporate credit of liquefied natural gas (LNG) import terminal developer Cheniere Energy Inc. with a stable outlook. S&P analysts said the junk bond rating primarily reflects the risk and uncertainties of the company rather than the operations of its four proposed LNG projects.
April 13, 2005
S&P Revises Kerr-McGee’s Outlook from ‘Positive’ to ‘Stable’
While affirming Kerr-McGee Corp.’s ‘BBB’ long-term corporate credit and senior unsecured ratings and its ‘A-2’ short-term corporate credit and commercial paper ratings, Standard & Poor’s Ratings Services (S&P) said Monday that the company’s outlook was revised to stable from positive.
January 14, 2003
Moody’s Confirms Williams’ Ratings; Outlook Negative
Moody’s Investors Service Wednesday confirmed the ratings of The Williams Companies, Inc. at Baa2 senior unsecured and its subsidiaries but changed the outlook to negative from stable. The ratings agency cited the potential bankruptcy and contingent liabilities of the company’s former subsidiary, Williams Communications Group (WCG), but noted Williams is negotiating to take over payments for WCG debt and “eliminate certain trigger events.”
February 28, 2002
Andersen Seeks Enron Settlement
Seeking to pull itself out of the Enron quagmire, Arthur Andersen reportedly is attempting to negotiate a settlement with Enron shareholders, unsecured creditors and employees in Enron’s 401(k) retirement plan, according to a story this morning in the Wall Street Journal.
February 22, 2002
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