Standard&Poor's Ratings Services has reviewed its rating on LOOP LLC, which it placed on CreditWatch negative after publishing its revised corporate criteria on Nov. 19, 2013. As per the group ratings methodology, we view Covington, La.-based LOOP as a "strategically important" subsidiary to one of its principal owners, Shell Oil Co., a wholly owned subsidiary of Royal Dutch Shell PLC. As a result, we are lowering our corporate credit rating on LOOP to 'BBB' from 'A-' and senior unsecured debt rating to 'BBB' from 'A-'. At the same time, we are affirming the 'A-2' rating on LOOP's short-term debt. The outlook is stable. On Dec. 18, 2013, Standard&Poor's lowered its corporate credit rating on Covington, La.-based
