The ratings on LOOP LLC reflect the company's dominant market share as operator of the Louisiana Offshore Oil Port and relatively stable and predictable cash flows. Weaknesses include the potential displacement of long-haul imports by Canadian crude supply and geographic concentration of assets. LOOP is strengthened further by the company's importance to its owners' daily operations and the throughput and deficiency (T&D) agreements with LOOP's large, investment-grade owners. As of June 30, 2008, LOOP had approximately $513 million in debt, adjusted for operating leases and postretirement benefit obligations. Standard&Poor's Ratings Services considers LOOP's business profile as strong. LOOP owns and operates a deepwater oil port 18 miles off the Louisiana coast that provides offloading for deep-draft oil tankers,
