...- We believe Boardwalk Pipeline Partners L.P. can sustain its strong financial performance and now expect its leverage to remain closer to 4x based on our forecast for EBITDA of more than $800 million annually. - While the company's cash flows are stable and predictable and we expect its leverage to improve, it still lacks the scale, scope, and diversity of its higher-rated midstream peers. - We also anticipate that Boardwalk's liquidity will be strong going forward and now view its management and governance as being better aligned with its peer group given its board's track record and recent operational success. Because of our stronger assessment of the company's management and governance, we raised our stand-alone credit profiles (SACPs) on its subsidiaries Texas Gas and Gulf South to 'a-'. - We affirmed our '###-' issuer credit ratings on Boardwalk, Gulf South Pipeline Co. LLC, and Texas Gas Transmission LLC and our '###-' issue-level ratings on all of the group's senior unsecured debt....
