The ratings on petroleum pipeline LOOP LLC reflect its strong business risk profile and modest financial risk profile, which are further supported by its separate throughput and deficiency agreements with its five owners, all of which are large, solidly investment-grade oil companies. As of Sept. 30, 2006, LOOP had $386.4 million in debt, adjusted for operating leases. LOOP owns and operates a deepwater oil port 18 miles off the Louisiana coast. The port provides offloading for deep-draft oil tankers, which cannot enter shallow inland ports. LOOP also owns 46 million barrels (mmbls) of onshore oil storage in a set of salt-dome caverns 25 miles inland, connected by a 48-inch pipeline. Operational daily throughput capacity is about 1.2 mmbls, and design
