Throughput and deficiency agreements (separate, not joint) with the company's five owners, all of which are large, solidly investment-grade oil companies; Relatively stable and predictable cash flows as well as minimal capital expenditures; Added liquidity is available in that the owners can reduce or suspend distributions, which at times have exceeded earnings; and Dominant market share as sole offshore oil port provider for deep-draft oil tankers in the Gulf of Mexico. Highly leveraged and Exposure to oil fields with declining production and imports of foreign cargoes. The ratings on petroleum pipeline LOOP LLC reflect its modest business risk profile and intermediate financial risk profile, which are further supported by its separate throughput and deficiency agreements with its five owners, all
