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Borger Energy Associates, L.P. -- Moody's places Borger's B1 rating under review for upgrade

Moody's Investors Service ("Moody's") today placed the B1 senior secured rating of Borger Energy Associates, L.P. (Borger) on review for upgrade. Borger's review for upgrade considers the project's Steam Sales Agreement (SSA) renewal with WRB Refining, LP on favorable terms that should ultimately contribute to higher financial metrics. WRB Refining, LP is a joint partnership between Phillips 66 (A3 stable) and Cenovus Energy Inc. (Ba1 stable).