U.S. Markets closed

Magellan Midstream Partners, L.P. -- Moody's affirms Magellan at Baa1

Magellan's Baa1 senior unsecured rating reflects its lower business risk compared to most other midstream MLP peers, with stable fee-based businesses comprising a significant majority of the company's cash flow. Magellan has consistently maintained lower financial leverage relative to its midstream peers, with a strong asset base.