Home Credit Ratings and Research S&P Global Ratings’ Credit Research LOOP LLC

Summary: LOOP LLC

Published Jul 30, 2013

2238 words — Published Jul 30, 2013

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Abstract:

LOOP LLC is the sole offshore oil port operator for deep-draft oil tankers in the Gulf of Mexico LOOP's importance to the daily operations of its owners strengthens its credit profile Overall throughput volumes expected to decrease from increasing domestic and Canadian crude oil production Elevated financial leverage and we expect 2013 debt to EBITDA to be 6.2x Modest capital spending requirements LOOP generally distributes most of its free cash flow to its owners The negative outlook incorporates our view that LOOP's competitive position has worsened and will lead to lower foreign imports and high financial leverage. Although we expect debt to EBITDA to be a high 6.0x to 6.5x in the intermediate term, we could lower the rating if

Brief Excerpt:

RESEARCH Summary: LOOP LLC Publication date: 30-Jul-2013 Primary Credit Analyst: Nora Pickens, New York (1) 212-438-2257; nora.pickens@standardandpoors.com Secondary Contact: Mark Habib, New York (1) 212-438-6344; mark.habib@standardandpoors.com...

Report Type:

Summary

Ticker

3281Z

Issuer

LOOP LLC

GICS

Oil & Gas Storage & Transportation (10102040)

Sector

Global Issuers

Country

United States

Region

United States

Format:

HTML

LOOP LLC 'A-' Rating Placed On CreditWatch Negative On Revised Criteria – 2013/11/26 – US$ 150.00

LOOP LLC Ratings Lowered To 'BBB' On Criteria Revision; Outlook Is Stable – 2013/12/18 – US$ 150.00

Research Update: LOOP LLC Ratings Are Lowered To 'BBB' On Criteria Revision; Outlook Stable – 2013/12/18 – US$ 225.00

Summary: LOOP LLC – 2014/06/30 – US$ 225.00

LOOP LLC 'BBB' Corporate Credit Rating Affirmed; Outlook Stable – 2014/11/19 – US$ 150.00

Summary: LOOP LLC – 2013/02/21 – US$ 225.00

LOOP LLC Rating Lowered To 'A-' From 'A' On Weaker Competitive Position; Outlook Negative – 2012/08/08 – US$ 150.00

Research Update: LOOP LLC Rating Lowered To 'A-' From 'A' On Weaker Competitive Position; Outlook Negative – 2012/08/08 – US$ 225.00

Summary: LOOP LLC – 2012/04/24 – US$ 225.00

LOOP LLC – 2011/10/20 – US$ 500.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Summary: LOOP LLC" Jul 30, 2013. Alacra Store. May 08, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-LOOP-LLC-1169773>

APA:	S&P Global Ratings’ Credit Research. (). Summary: LOOP LLC Jul 30, 2013. New York, NY: Alacra Store. Retrieved May 08, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-LOOP-LLC-1169773>

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