Moody's Investors Service ("Moody's") has withdrawn Andeavor Logistics LP's (ANDX) Baa3 senior unsecured rating. The withdrawal of ANDX's rating also concludes the review for upgrade upon which ANDX was initially placed on April 30, 2018. This action follows MPLX LP's (MPLX, Baa2 stable) completion of its offer to exchange MPLX senior notes for notes issued by ANDX.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Andeavor Logistics LP and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
FINDLAY, Ohio, June 28, 2019 /PRNewswire/ -- MPLX LP (MPLX) and Andeavor Logistics LP (ANDX) today announced that the Board of Directors of the general partner of ANDX has set June 28, 2019 as the record date for determining holders of ANDX common units entitled to execute and deliver written consents with respect to the proposed acquisition. ANDX's general partner and a subsidiary of Marathon Petroleum Corporation (MPC), which together own approximately 64% of ANDX's common units, have delivered written consents adopting and approving in all respects the Agreement and Plan of Merger, dated as of May 7, 2019 (the "Merger Agreement") and the transactions contemplated thereby. The delivery of these consents is sufficient to adopt the Merger Agreement and approve the acquisition of ANDX by MPLX, without the receipt of written consent from any other holder of ANDX units.
NEW YORK , May 30, 2019 /PRNewswire/ -- Amber Road, Inc. (AMBR) Lifshitz & Miller announces investigation into possible breach of fiduciary duties in connection with the proposed sale of Amber Road to ...
DALLAS , July 22, 2019 /PRNewswire/ -- Cushing ® Asset Management, LP, and Swank Capital, LLC, and announce an upcoming interim change to the constituents of The Cushing ® MLP Market Cap Index (the "Index"). ...
FINDLAY, Ohio , July 1, 2019 /PRNewswire/ -- Andeavor Logistics LP (NYSE: ANDX) a master limited partnership sponsored by Marathon Petroleum Corp. (NYSE: MPC), plans to release its 2019 second-quarter ...
DALLAS , July 22, 2019 /PRNewswire/ -- Cushing ® Asset Management, LP, and Swank Capital, LLC, announce an upcoming interim change to the constituents of The Cushing ® 30 MLP Index (the "Index"). ...
FINDLAY, Ohio, July 22, 2019 /PRNewswire/ -- The board of directors of the general partner of MPLX LP (MPLX) has declared a quarterly cash distribution of $0.6675 per common unit for the second quarter of 2019, or $2.67 on an annualized basis. As previously announced, MPLX expects to close the acquisition of Andeavor Logistics LP (ANDX) on July 30, 2019, subject to the satisfaction or waiver of the remaining customary closing conditions. Given the anticipated timing of the closing of the transaction, the parties expect that ANDX common unitholders will not receive any future distributions from ANDX, but instead will receive the second quarter 2019 distribution with respect to the MPLX common units expected to be issued in connection with the merger.
DALLAS , July 22, 2019 /PRNewswire/ -- Cushing ® Asset Management, LP, and Swank Capital, LLC, announce an upcoming interim change to constituents of The Cushing ® MLP High Income Index (the "Index"). ...
Small-cap stocks aren't generally viewed as income-oriented investments. Nonetheless, there's a handful of off-the-radar tickers that offer not only the growth potential typical of smaller companies, but cash generation, too.And at the moment, it might actually make sense for investors to seek out small-cap dividend stocks to buy, as counterintuitive as they might seem.Despite the strong start to the new year, the Russell 2000 Index of small caps has trailed large-cap stocks - as represented by Standard & Poor's 500-stock index - in a big way since late February. That's when the small-cap rally peaked. For the year-to-date, the S&P; 500 has gained 19.1%, while the smaller-company index has gained 14.6%.This lull might ultimately prove a buying opportunity, however, and for small-cap dividend payers in particular. Waning bond yields are increasingly sending investors on a search for yields, and few large-cap income plays have proven up to the task.Here's a rundown of 20 small-cap dividend stocks to buy now. Remember that buying shares of any small company - even a dividend payer - may come with added risks, which can include highly concentrated revenue streams and less access to financing. Also note that several of these companies will report earnings in the next couple of weeks, which will provide more clarity into their financial situations. SEE ALSO: 25 Stocks Every Retiree Should Own
DALLAS , July 25, 2019 /PRNewswire/ -- Alerian announced today that Andeavor Logistics (NYSE: ANDX) is expected to be removed from the Alerian Midstream Energy Index (AMNA), Alerian US Midstream Energy ...
MPLX expects the increased distribution to be paid on Aug 14 to unitholders of record as of Aug 5.
FINDLAY, Ohio, July 30, 2019 /PRNewswire/ -- MPLX LP (MPLX) today announced that the company has completed its acquisition of Andeavor Logistics LP (ANDX) in a unit-for-unit transaction (with a blended exchange ratio of 1.07 times) and assumption of approximately $5 billion of debt. As of this morning, ANDX ceased to be publicly traded and its common units discontinued trading on the New York Stock Exchange. "We are pleased to close our acquisition of Andeavor Logistics today," said Gary R. Heminger, MPLX chairman and chief executive officer.