We're definitely into long term investing, but some companies are simply bad investments over any time frame. We don't...
Moody's Investors Service ("Moody's") downgraded BCP Renaissance Parent L.L.C.'s (BCP Renaissance) Corporate Family Rating (CFR) to B2 from B1, its secured Term Loan B due 2024 to B2 from B1 and its Probability of Default Rating to B2-PD from B1-PD. "The rating downgrade reflects the weakened contract counterparty credit of the shippers on the Rover natural gas pipeline in which BCP Renaissance has a 32.4% indirect interest," commented Andrew Brooks, Moody's Vice President. "Weakened shipper credit risk has exacerbated BCP Renaissance's already high leverage, notwithstanding the stability of Rover's fee-based, long-term contractual underpinnings."
Concurrently, Moody's also placed on review for upgrade the Ba3 CFR, Ba3-PD probability of default and Ba3 senior secured ratings of HFOTCO, a wholly owned subsidiary of SEMGroup. The transaction was approved by the board of directors of both Energy Transfer and SEMGroup and is expected to close by late 2019 or early 2020, subject to obtaining regulatory approvals, SemGroup shareholder approval and other customary closing conditions.
Moody's Investors Service, ("Moody's") assigned Ba2 ratings to Energy Transfer Operating, L.P.'s (ETO) proposed Series F and Series G Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Units. Together with a concurrent proposed offering of senior unsecured notes, which will be rated Baa3, ETO will use the proceeds of the preferred units offering to repay borrowings under its revolving credit facility and to refinance upcoming debt maturities. The proposed preferred units are rated Ba2, two notches below ETO's Baa3 senior unsecured rating, reflecting their subordination to all of the company's existing senior unsecured notes, its unsecured revolving credit facility and its subordinated notes.
Q3 2019 Energy Transfer LP Earnings Call
Moody's Investors Service (Moody's) has today changed the outlook to positive from stable on the Caa1 long-term deposit ratings of Alpha Bank AE, Eurobank Ergasias S.A. (Eurobank) and National Bank of Greece S.A. (NBG). The long-term counterparty risk assessments (CRA) of Eurobank Ergasias S.A. and National Bank of Greece S.A. have also been upgraded to B1(cr) from B2(cr), while all other ratings of the three banks have been affirmed including their baseline credit assessments (BCA) of caa1.
Q1 2020 Energy Transfer LP Earnings Call
Moody's Investors Service, ("Moody's") has today changed the outlook to stable from positive on the long-term deposit ratings of Alpha Bank AE (Alpha Bank), Attica Bank S.A. (Attica Bank), National Bank of Greece S.A. (NBG), Pancretan Cooperative Bank Ltd (Pancreta Bank) and Piraeus Bank S.A. (Piraeus Bank). The rating agency has also affirmed all outstanding ratings of the five Greek banks, and said that the outlook change takes into consideration the negative impact that the Coronavirus pandemic will have on the economy and on these banks' plans to further improve their asset quality and profitability.
Concurrently, Moody's also placed on review for upgrade the Ba3 CFR, Ba3-PD probability of default and Ba3 senior secured ratings of HFOTCO, a wholly owned subsidiary of SEMGroup. The transaction was approved by the board of directors of both Energy Transfer and SEMGroup and is expected to close by late 2019 or early 2020, subject to obtaining regulatory approvals, SemGroup shareholder approval and other customary closing conditions.
Rating Action: Moody's downgrades Traverse Midstream to B3; negative outlook. Global Credit Research- 24 Apr 2020. $1.4 billion of rated debt affected.
Q2 2019 Energy Transfer LP Earnings Call
Moody's Investors Service ("Moody's") downgraded PES Holdings, LLC (PES) Corporate Family Rating (CFR) to Ca from B2, Probability of Default Rating (PDR) to Ca-PD from B2-PD, its Tranche A first lien term loan facility to Caa1 from Ba2, and its Tranche B and Tranche C of its first lien term loan facility to Ca from B2. "The downgrade and the negative outlook reflect the ongoing uncertainty behind the company's future prospects and our expectation of weak collateral coverage for PES's debt after the massive fire incident on June 21," said Arvinder Saluja, Moody's Vice President.
- Upgraded to Baa1 from Baa2, the covered bonds issued by Eurobank Ergasias S.A. (CR assessment B1 (cr)), under its Mortgage Covered Bonds 1 programme. - Upgraded to Baa3 from Ba1, the covered bonds issued by Eurobank Ergasias S.A., under its Mortgage Covered Bonds 2 programme. - Upgraded to Baa1 from Baa3, the covered bonds issued by National Bank of Greece S.A. (CR assessment B1 (cr)), under its Mortgage Covered Bonds 2 programme.
Every investor in National Bank of Greece S.A. (ATH:ETE) should be aware of the most powerful shareholder groups...
Q3 2017 Energy Transfer Equity LP and Energy Transfer Partners LP Earnings Call
Q4 2019 Energy Transfer LP Earnings Call