Research Update: HF Sinclair Corp. Assigned 'BBB-' Rating, Stable Outlook Following Acquisiton Of Sinclair Oil - S&P Global Ratings’ Credit Research

Research Update: HF Sinclair Corp. Assigned 'BBB-' Rating, Stable Outlook Following Acquisiton Of Sinclair Oil

Research Update: HF Sinclair Corp. Assigned 'BBB-' Rating, Stable Outlook Following Acquisiton Of Sinclair Oil - S&P Global Ratings’ Credit Research
Research Update: HF Sinclair Corp. Assigned 'BBB-' Rating, Stable Outlook Following Acquisiton Of Sinclair Oil
Published Mar 15, 2022
6 pages (2486 words) — Published Mar 15, 2022
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On March 14, 2022, HollyFrontier Corp. (HFC) closed on its acquisition of Sinclair Oil Corp., and the newly merged company is HF Sinclair Corp. We assigned our 'BBB-' issuer credit rating to HF Sinclair Corp. The outlook is stable. There are no changes to the 'BBB-' senior unsecured issue rating on HFC. The ratings on midstream-focused subsidiary, Holly Energy Partners (HEP), are also unchanged. The stable outlook reflects our expectation of debt to EBITDA of 1.5x under midcycle conditions. HF Sinclair's refining assets are well positioned to take advantage of periods of favorable pricing differentials between West Texas Intermediate (WTI) crude, Brent, and Louisiana Light Sweet crude, and Western Canadian Select. We believe the company's profitability is stronger than its

  
Brief Excerpt:

...- On March 14, 2022, HollyFrontier Corp. (HFC) closed on its acquisition of Sinclair Oil Corp., and the newly merged company is HF Sinclair Corp. - We assigned our '###-' issuer credit rating to HF Sinclair Corp. The outlook is stable. - There are no changes to the '###-' senior unsecured issue rating on HFC. The ratings on midstream-focused subsidiary, Holly Energy Partners (HEP), are also unchanged. - The stable outlook reflects our expectation of debt to EBITDA of 1.5x under midcycle conditions....

  
Report Type:

Research Update

Issuer
HF Sinclair Corp.
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: HF Sinclair Corp. Assigned 'BBB-' Rating, Stable Outlook Following Acquisiton Of Sinclair Oil" Mar 15, 2022. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-HF-Sinclair-Corp-Assigned-BBB-Rating-Stable-Outlook-Following-Acquisiton-Of-Sinclair-Oil-2809282>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: HF Sinclair Corp. Assigned 'BBB-' Rating, Stable Outlook Following Acquisiton Of Sinclair Oil Mar 15, 2022. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-HF-Sinclair-Corp-Assigned-BBB-Rating-Stable-Outlook-Following-Acquisiton-Of-Sinclair-Oil-2809282>
  
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