Research Update: Energy Transfer L.P. Outlook Revised To Negative From Stable On Weaker Demand, Growth Prospects; 'BBB-' Rating Affirmed - S&P Global Ratings’ Credit Research

Research Update: Energy Transfer L.P. Outlook Revised To Negative From Stable On Weaker Demand, Growth Prospects; 'BBB-' Rating Affirmed

Research Update: Energy Transfer L.P. Outlook Revised To Negative From Stable On Weaker Demand, Growth Prospects; 'BBB-' Rating Affirmed - S&P Global Ratings’ Credit Research
Research Update: Energy Transfer L.P. Outlook Revised To Negative From Stable On Weaker Demand, Growth Prospects; 'BBB-' Rating Affirmed
Published May 12, 2020
8 pages (3173 words) — Published May 12, 2020
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

We expect U.S. diversified midstream energy company Energy Transfer L.P.'s (ET) consolidated credit measures to be weaker than we previously anticipated because of lower commodity prices, weaker demand, and slower growth prospects due to the coronavirus pandemic. We are affirming our 'BBB-' issuer credit rating on ET and its other operating subsidiaries, including Energy Transfer Operating L.P. (ETO). At the same time, we are revising the outlook to negative from stable. The negative outlook on ET reflects our view that the partnership's leverage will be in the 5.5x area for 2020, improving to about 5x in 2021. The negative outlook on Energy Transfer reflects our view that the partnership's leverage will be in the 5.5x area for 2020, with EBITDA

  
Brief Excerpt:

...- We expect U.S. diversified midstream energy company Energy Transfer L.P.'s (ET) consolidated credit measures to be weaker than we previously anticipated because of lower commodity prices, weaker demand, and slower growth prospects due to the coronavirus pandemic. - We are affirming our '###-' issuer credit rating on ET and its other operating subsidiaries, including Energy Transfer Operating L.P. (ETO). At the same time, we are revising the outlook to negative from stable. - The negative outlook on ET reflects our view that the partnership's leverage will be in the 5.5x area for 2020, improving to about 5x in 2021....

  
Report Type:

Research Update

Ticker
ETE
Issuer
Energy Transfer L.P.
GICS
Oil & Gas Storage & Transportation (10102040)
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Energy Transfer L.P. Outlook Revised To Negative From Stable On Weaker Demand, Growth Prospects; 'BBB-' Rating Affirmed" May 12, 2020. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Energy-Transfer-L-P-Outlook-Revised-To-Negative-From-Stable-On-Weaker-Demand-Growth-Prospects-BBB-Rating-Affirmed-2431374>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Energy Transfer L.P. Outlook Revised To Negative From Stable On Weaker Demand, Growth Prospects; 'BBB-' Rating Affirmed May 12, 2020. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Energy-Transfer-L-P-Outlook-Revised-To-Negative-From-Stable-On-Weaker-Demand-Growth-Prospects-BBB-Rating-Affirmed-2431374>
  
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