Research Update: Energy Transfer L.P. Outlook Revised To Stable From Negative On Accelerated Leverage Reduction; 'BBB-' Rating Affirmed - S&P Global Ratings’ Credit Research

Research Update: Energy Transfer L.P. Outlook Revised To Stable From Negative On Accelerated Leverage Reduction; 'BBB-' Rating Affirmed

Research Update: Energy Transfer L.P. Outlook Revised To Stable From Negative On Accelerated Leverage Reduction; 'BBB-' Rating Affirmed - S&P Global Ratings’ Credit Research
Research Update: Energy Transfer L.P. Outlook Revised To Stable From Negative On Accelerated Leverage Reduction; 'BBB-' Rating Affirmed
Published May 07, 2021
7 pages (2817 words) — Published May 07, 2021
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On May 6, 2021, diversified midstream energy partnership Energy Transfer L.P. (ET) reported a strong first-quarter because of one-time effects of the February winter storm in Texas. The partnership reported an EBITDA increase of $2.4 billion compared to the same period the previous year. During the strong quarter, the partnership used cash from operations to reduce outstanding debt by $3.7 billion. As a result, we affirmed our 'BBB-' issuer credit rating and senior unsecured issue-level ratings on ET and its operating subsidiary, Panhandle Eastern Pipe Line Co. L.P. We revised the outlook to stable from negative. The stable outlook reflects the accelerated progress in reducing adjusted debt to EBITDA to about 4.5x and below through 2022. The stable outlook reflects

  
Brief Excerpt:

...- On May 6, 2021, diversified midstream energy partnership Energy Transfer L.P. (ET) reported a strong first-quarter because of one-time effects of the February winter storm in Texas. The partnership reported an EBITDA increase of $2.4 billion compared to the same period the previous year. During the strong quarter, the partnership used cash from operations to reduce outstanding debt by $3.7 billion. - As a result, we affirmed our '###-' issuer credit rating and senior unsecured issue-level ratings on ET and its operating subsidiary, Panhandle Eastern Pipe Line Co. L.P. We revised the outlook to stable from negative. - The stable outlook reflects the accelerated progress in reducing adjusted debt to EBITDA to about 4.5x and below through 2022....

  
Report Type:

Research Update

Ticker
ETE
Issuer
Energy Transfer LP
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 Stable From Negative On Accelerated Leverage Reduction; 'BBB-' Rating Affirmed" May 07, 2021. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Energy-Transfer-L-P-Outlook-Revised-To-Stable-From-Negative-On-Accelerated-Leverage-Reduction-BBB-Rating-Affirmed-2643581>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Energy Transfer L.P. Outlook Revised To Stable From Negative On Accelerated Leverage Reduction; 'BBB-' Rating Affirmed May 07, 2021. 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-Stable-From-Negative-On-Accelerated-Leverage-Reduction-BBB-Rating-Affirmed-2643581>
  
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