|Expense Ratio (net)||N/A|
|Last Cap Gain||N/A|
|Morningstar Risk Rating||N/A|
|Beta (3Y Monthly)||N/A|
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Concurrently, Moody's also placed on review for upgrade the Ba3 CFR, Ba3-PD probability of default and Ba3 senior secured ratings of HFOTCO, a wholly owned subsidiary of SEMGroup. The transaction was approved by the board of directors of both Energy Transfer and SEMGroup and is expected to close by late 2019 or early 2020, subject to obtaining regulatory approvals, SemGroup shareholder approval and other customary closing conditions.
Democratic presidential candidates are increasingly negative about new major pipelines, creating a new challenge for US midstream players
Moody's Investors Service ("Moody's") downgraded PES Holdings, LLC (PES) Corporate Family Rating (CFR) to Ca from B2, Probability of Default Rating (PDR) to Ca-PD from B2-PD, its Tranche A first lien term loan facility to Caa1 from Ba2, and its Tranche B and Tranche C of its first lien term loan facility to Ca from B2. "The downgrade and the negative outlook reflect the ongoing uncertainty behind the company's future prospects and our expectation of weak collateral coverage for PES's debt after the massive fire incident on June 21," said Arvinder Saluja, Moody's Vice President.
Moody's Investors Service ("Moody's") assigned a B1 rating to BCP Renaissance Parent L.L.C.'s (BCP Renaissance) proposed $65 million senior secured Term Loan B due November 2024. BCP Renaissance's existing ratings including its B1 Corporate Family Rating (CFR), the B1 rating on its existing Term Loan B and its B1-PD Probability of Default Rating (PDR) are not affected by this rating assignment. The proposed $65 million Term Loan B is rated B1, equivalent to the B1 Corporate Family Rating (CFR), as the Term Loan B is the only debt in BCP Renaissance's capital structure.
Moody's Investors Service ("Moody's") assigned a first time rating of Baa2 to Midwest Connector Capital Company LLC's (Midwest Connector) proposed issuance of $2.5 billion of senior notes. Midwest Connector is a special purpose entity formed solely for the purpose of issuing the proposed notes. The notes will be jointly and severally guaranteed by Dakota Access, LLC (DAPL) and Energy Transfer Crude Oil Company, LLC (ETCOC), the respective owners of the DAPL and ETCOC pipeline assets which together comprise the Dakota Access crude oil pipeline system (Dakota Access).
The B1 Corporate Family Rating (CFR), the B1-PD Probability of Default Rating (PDR) and stable outlook are not affected by this action. The notes will be fully and unconditionally guaranteed by USAC's material domestic subsidiaries and are co-issued by USA Compression Finance Corp.
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Moody's Investors Service ("Moody's") changed Sunoco Logistics Partners Operations L.P.'s (SXL Guarantor) and legacy Sunoco, Inc.'s outlooks to stable from negative and affirmed their respective Baa3 senior unsecured debt ratings. The change in outlook to stable follows Moody's change in Energy Transfer Partners, L.P.'s (ETP, now Energy Transfer Operating, L.P.) outlook to stable and affirmation of its Baa3 senior unsecured rating on October 19 following the closing of its acquisition by its general partner, Energy Transfer Equity, L.P. (ETE, now Energy Transfer, LP, "ET").
The Zacks Analyst Blog Highlights: Energy Transfer, Phillips 66, Whiting Petroleum and Continental Resources
Moody's Investors Service ("Moody's") changed Energy Transfer Partners, L.P.'s (ETP) outlook to stable from negative. The Ba2 secured notes rating on Energy Transfer Equity, L.P. (ETE), ETP's general partner, remains under review for upgrade. Moody's also affirmed Panhandle Eastern Pipe Line Company, LP's Baa3 senior unsecured rating and outlook remains stable.
North Dakota's daily crude production in August broke the previous all-time high set in July, while natural gas output and producing wells also hit records.
NEW YORK, Oct. 18, 2018 /PRNewswire/ -- WeissLaw LLP announced that it has filed a class action on behalf of unitholders of Energy Transfer Partners, L.P. ("ETP") (ETP) seeking to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the proposed acquisition of ETP by Energy Transfer Equity, L.P. ("ETE"). The class action was commenced in the United States District Court for the Northern District of Texas, Dallas Division. The complaint seeks injunctive and other relief on behalf of the named plaintiff and all ETP unitholders, and alleges that in an attempt to secure unitholder approval for the merger, the defendants filed a materially incomplete and misleading proxy statement with the Securities and Exchange Commission in violation of the Exchange Act. The omitted and/or misrepresented information is believed to be material to ETP unitholders' ability to make an informed decision whether to vote in favor of the Proposed Transaction. The plaintiff is represented by WeissLaw, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
DALLAS , Oct. 17, 2018 /PRNewswire/ -- Alerian announced today that Energy Transfer Partners (NYSE: ETP) is expected to be removed from the Alerian Midstream Energy Index (AMNA), Alerian US Midstream Energy ...
Energy Transfer Partners LP said on Monday that a West Texas pipeline would resume operations on Saturday as planned after the pipeline spilled water with nontoxic green dye and residual crude oil near Abilene, Texas. The spill, which began mid-day Sunday, went into Button Willow Creek and then into Canyon Rock Lake during a recent test, Energy Transfer Partners said. The spill involved an undisclosed amount of water, which contained "a very small amount of residual crude oil," the Dallas pipeline operator said in an email.