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Inergy, L.P. Message Board

ca1451_99 10 posts  |  Last Activity: Jul 17, 2008 9:09 PM Member since: Jul 2, 1999
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  • Reply to

    news is out!

    by upyobuttwithacoconut Jul 17, 2008 8:13 PM
    ca1451_99 ca1451_99 Jul 17, 2008 9:09 PM Flag

    Do you remember a company called EOTT? It was in a very similar business (crude oil pipelines, storage, etc.) to SGLP. It filed BK primarily because of issues with its parent. That parent? Enron.

    Not saying it will happen here but it has happened before in a similar situation....

  • Fitch Downgrades SemGroup and Places Ratings on Rating Watch Negative.
    17 Jul 2008 5:34 PM (EDT)



    Fitch Ratings-Chicago-17 July 2008: Fitch Ratings has downgraded the ratings of SemGroup, L.P., SemCrude L.P, and SemCAMS Midstream Co. and placed the ratings on Rating Watch Negative. Affected ratings are as follows:
    SemGroup, L.P. (SemGroup)
    --Long-term Issuer Default Rating (IDR) to 'B-' from 'B';
    --Senior unsecured to 'B/RR3' from 'B+/RR3'.

    SemCrude L.P. (SemCrude)
    --Long-term (IDR) to'B-' from 'B';
    --Senior secured working capital facility to 'BB-/RR1' from 'BB/RR1';
    --Senior secured revolving credit facility to 'B+/RR1' from 'BB-/RR1';
    --Senior secured term loan B to 'B+/RR1' from 'BB-/RR1'.

    SemCAMS Midstream Co. (SemCAMS)
    --Long-term (IDR) to'B-' from 'B';
    --Senior secured working capital facility to 'BB-/RR1' from 'BB/RR1';
    --Senior secured revolving credit facility to 'B+/RR1' from 'BB-/RR1';
    --Senior secured term loan B to 'B+/RR1' from 'BB-/RR1'.

    Approximately $2.6 billion of debt is affected by these actions.

    The downgrades and Watch Negative status reflect liquidity pressures related to the sustained elevated level of crude oil prices and SemGroup's ability to continue its marketing and storage businesses in the current price environment. Spot prices for WTI crude at Cushing, OK have increased by as much as 43% since April 1, 2008. SemGroup hedges a large percentage of its inventories and would be required to post additional margin to increase the collateral support for its hedging program. Specifically, Fitch is concerned that the company may not have sufficient available capacity from its bank facilities to meet requests for additional margin.

    SemGroup is a privately held midstream energy partnership focused primarily on providing gathering, transportation, processing, and marketing services for crude oil and refined products in the U.S. Midcontinent region and Canada. Additionally, through its SemMaterials subsidiary, SemGroup stores, transport and markets asphalt and asphalt products in the United States and Mexico. The company is currently owned by management and various private equity investors, including Ritchie Capital Management and Carlyle/Riverstone Global Energy and Power Fund II.

    Contact: Joseph Sorce +1-312-368-3161, Chicago; or Glen Grabelsky +1-212-908-0577, New York.

    Media Relations: Brian Bertsch, New York, Tel: +1 212-908-0549.

    Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, 'www.fitchratings.com'. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.

  • ca1451_99 by ca1451_99 Jun 16, 2003 2:55 PM Flag

    Great mgmt. team, great strategy, excellent execution. I've held this stock since it went public and the company has outperformed probably anyone's expectations. I wouldn't expect the stock to continue to perform as well as it has recently, but with continued distribution increases, NRGY should be a solid performer for years to come.

  • Reply to

    RE:

    by A Yahoo! User May 11, 2005 1:17 PM
    ca1451_99 ca1451_99 Aug 13, 1999 11:15 AM Flag

    is down? What's going on here...

  • Reply to

    RE:

    by A Yahoo! User May 11, 2005 1:17 PM
    ca1451_99 ca1451_99 Aug 12, 1999 11:58 AM Flag

    Not a bad move...maybe things will start heading back in the right direction.

  • Reply to

    down +4

    by suedeuno Jul 20, 1999 3:48 PM
    ca1451_99 ca1451_99 Jul 21, 1999 1:49 PM Flag

    Anybody see the results of the MP3 IPO today? Up 250%+. I think this is an indication of the future of downloadable music, and ADPT is definitely poised to play a part of this business.

  • Reply to

    QLGCs earnings

    by visionacres Jul 15, 1999 6:28 AM
    ca1451_99 ca1451_99 Jul 15, 1999 4:37 PM Flag

    During the first quarter, QLogic recorded
    expanded revenues across each of its IDE, SCSI and Fibre
    Channel I/O product lines. ``Fibre Channel revenues
    continued to outpace the rest of our I/O business in the
    first quarter, expanding 272% from a year ago to $9.3
    million, or 22% of total revenue,'' said H.K. Desai, the
    Company's Chairman, CEO and President. ``As disclosed last
    quarter, QLogic also benefited from the receipt of initial
    IDE royalties during the first quarter, which
    amounted to $3.5 million. These first quarter IDE
    royalties, as expected, reflected high unit royalty rates
    for initial volume shipments as well as one-time
    shipments for initial stocking inventory. Lastly, our
    traditional SCSI business, which continued to dominate our
    revenue base at 70% of sales, grew 42% from a year ago,
    which resulted from OEM launches of new peripheral
    products. The uplift in our peripheral SCSI business
    coupled with new IDE royalties added to Fibre Channel
    growth to create unusually strong revenue in the first
    quarter.''

  • Reply to

    QLGCs earnings

    by visionacres Jul 15, 1999 6:28 AM
    ca1451_99 ca1451_99 Jul 15, 1999 4:33 PM Flag

    QLGC just posted earnings of $0.60 versus $0.49
    estimate and $0.55 whisper. Will be interested to hear
    what they say about FC and general business conditions
    during CC. Could be a good sign for ADPT.

  • Reply to

    adpt news 2

    by WallStreetLinker Jul 2, 1999 11:23 AM
    ca1451_99 ca1451_99 Jul 2, 1999 4:03 PM Flag

    <EOM>

  • Reply to

    adpt news 2

    by WallStreetLinker Jul 2, 1999 11:23 AM
    ca1451_99 ca1451_99 Jul 2, 1999 3:31 PM Flag

    <EOM>

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