Southern Natural Gas Co. LLC Upgraded To 'BBB+', Off Watch Positive; Outlook Stable - S&P Global Ratings’ Credit Research

Southern Natural Gas Co. LLC Upgraded To 'BBB+', Off Watch Positive; Outlook Stable

Southern Natural Gas Co. LLC Upgraded To 'BBB+', Off Watch Positive; Outlook Stable - S&P Global Ratings’ Credit Research
Southern Natural Gas Co. LLC Upgraded To 'BBB+', Off Watch Positive; Outlook Stable
Published Sep 02, 2016
4 pages (1518 words) — Published Sep 02, 2016
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

U.S. diversified energy company Kinder Morgan Inc. (KMI) and Southern Co. announced the closing of their strategic natural gas pipeline joint venture through Southern Co.'s acquisition of a 50% equity interest in Southern Natural Gas Co. LLC. We are raising the corporate credit and senior unsecured debt ratings on Southern Natural Gas to 'BBB+' from 'BBB-' and removing the ratings from CreditWatch with positive implications. The outlook is stable. The stable outlook on Southern Natural Gas reflects our expectations that the pipeline will maintain a solid competitive position supplying natural gas to the Southeast U.S. and strong credit measures, such as total debt to EBITDA in the 3x to 3.5x area. NEW YORK (S&P Global Ratings) Sept. 2, 2016--S&P Global

  
Brief Excerpt:

...+ U.S. diversified energy company Kinder Morgan Inc. (KMI) and Southern Co. announced the closing of their strategic natural gas pipeline joint venture through Southern Co.'s acquisition of a 50% equity interest in Southern Natural Gas Co. LLC. + We are raising the corporate credit and senior unsecured debt ratings on Southern Natural Gas to '###+' from '###-' and removing the ratings from CreditWatch with positive implications. The outlook is stable. + The stable outlook on Southern Natural Gas reflects our expectations that the pipeline will maintain a solid competitive position supplying natural gas to the Southeast U.S. and strong credit measures, such as total debt to EBITDA in the 3x to 3.5x area. NEW YORK (S&P Global Ratings) Sept. 2, 2016--S&P Global Ratings today raised its corporate credit rating and senior unsecured debt rating on pipeline company Southern Natural Gas Co. LLC (SNG) to '###+' from '###-' and removed the ratings from CreditWatch, where they were placed with positive...

  
Report Type:

Ratings Action

Ticker
SNT1
Issuer
GICS
Oil & Gas Storage & Transportation (10102040)
Sector
Global Issuers
Country
Region
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MLA:
S&P Global Ratings’ Credit Research. "Southern Natural Gas Co. LLC Upgraded To 'BBB+', Off Watch Positive; Outlook Stable" Sep 02, 2016. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Southern-Natural-Gas-Co-LLC-Upgraded-To-BBB-Off-Watch-Positive-Outlook-Stable-1704997>
  
APA:
S&P Global Ratings’ Credit Research. (). Southern Natural Gas Co. LLC Upgraded To 'BBB+', Off Watch Positive; Outlook Stable Sep 02, 2016. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Southern-Natural-Gas-Co-LLC-Upgraded-To-BBB-Off-Watch-Positive-Outlook-Stable-1704997>
  
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