Niska Gas Storage (NKA) Reports Q3 Loss of $6.85/Share

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Go back to Niska Gas Storage (NKA) Reports Q3 Loss of $6.85/Share

S&P Cuts Niska Gas Storage (NKA) to 'B-' Following FQ3 Results

February 3, 2015 7:29 AM EST

Standard & Poor's Ratings Services said it lowered its ratings on Houston-based natural gas storage company Niska Gas Storage Partners LLC (NYSE: NKA) to 'B-' from 'B+'. At the same time, Standard & Poor's lowered its issue-level rating on the senior unsecured debt at subsidiaries Niska Gas Storage US and Niska Gas Storage Canada ULC to 'CCC+' from 'B'. The outlook is negative. The '5' recovery rating on the senior unsecured debt is unchanged.

The downgrade reflects our expectation that seasonal natural gas storage spreads will continue to be weak in fiscal 2016,... More