Standard & Poor’s Ratings Services (S&P) Thursdaylowered its corporate rating and senior unsecured rating onHouston-based pipeline company NGPL PipeCo LLC to “BB-” from “BB+” and placed the ratings on CreditWatch withnegative implication. S&P also lowered the rating on NGPL’ssenior unsecured notes to “BB-” from “BB+” and placed theratings on CreditWatch. The ratings downgrade impactsNGPL’s $3 billion of reported debt.
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