...Questions Abound: With third quarter 2015 earnings complete, continued commodity price weakness, and recent merger and acquisition activity in the sector, Fitch Ratings' U.S. Midstream Energy team thought it would be useful to address recent queries they have received regarding the Midstream, MLP, and Pipeline industry. In conversation with investors, a number of common themes and concerns have come up. This report highlights the questions most frequently brought up as well as Fitch's position on these issues. Capital Access Concerns Growing: Equity price weakness has led to growing concerns that capital market access constraints could lead to higher leverage, stressing balance sheets across the midstream energy sector. Issuers, thus far, have been able to access capital, but with equity yields at multiyear highs the ability and willingness to issue equity to help fund growth capital spending remains uncertain. Fitch expects issuers to continue to fund growth with a balanced mix of debt...
