U.S. offshore oil port operator LOOP LLC's credit measures have improved as per our expectations and will continue to improve due to the growing storage business. As a result, we are raising our corporate credit rating on the company to 'BBB+' from 'BBB'. We are also affirming the 'A-2' short-term rating on the company. We are also raising our issue-level rating on LOOP's senior unsecured debt to 'BBB+' from 'BBB'. The stable outlook reflects our view that leverage will slightly improve over the coming years but remain between 2x and 2.5x. On Aug. 3, 2017, S&P Global Ratings raised its corporate credit rating on LOOP LLC to 'BBB+' from 'BBB'. We also affirmed the 'A-2' short-term rating on the company.
