Phillips 66, Spectra Energy Announce Plan to Strengthen DCP Midstream
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Go back to Phillips 66, Spectra Energy Announce Plan to Strengthen DCP Midstream
September 9, 2015 12:07 PM EDT
Standard & Poor's Ratings Services said affirmed its 'BB' corporate credit ratings on Denver-based midstream energy company DCP Midstream LLC (Midstream) and its master limited partnership DCP Midstream Partners L.P. (Partners)(NYSE: DPM). The outlook remains negative.
At the same time, we... More
September 8, 2015 4:05 PM EDT
Phillips 66 (NYSE: PSX) and Spectra Energy (NYSE: SE), 50/50 joint venture owners in DCP Midstream, LLC, have entered into a nonbinding letter of intent for contributing assets to strengthen DCP Midstream. This transaction is expected to provide DCP Midstream with a stronger balance sheet and increased financial flexibility, and positions DCP to grow through commodity price cycles.
Spectra Energy has agreed to contribute its ownership interest in both the Sand Hills and Southern Hills NGL pipelines. Phillips 66 has agreed to contribute $1.5... More
