Report
EUR 167.04 For Business Accounts Only

Moody's withdraws Buckeye's secured notes rating following cancellation of offering; Term loan's Ba1 rating unchanged

Rating Action: Moody's withdraws Buckeye's secured notes rating following cancellation of offering; Term loan's Ba1 rating unchanged. Global Credit Research- 16 Oct 2019. New York, October 16, 2019-- Moody's Investors Service has withdrawn its Ba1 rating for Buckeye Partners, L.P.' s proposed $500 million senior secured notes due 2027 following the company's cancellation of that debt offering.
Underlying
Buckeye Partners L.P.

Buckeye Partners is a holding company. Through its subsidiaries, the company owns and operates integrated assets providing midstream logistic solutions, including transportation, storage, processing and marketing of liquid petroleum products. The company has three segments: Domestic Pipelines and Terminals, which provides pipeline transportation services; Global Marine Terminals, which provides marine accessible bulk storage and blending services, rail and truck rack loading/unloading, and petroleum processing services in the East Coast and Gulf Coast regions of the U.S. and in the Caribbean; and Merchant Services, which distributes refined petroleum products in the continental U.S. and in the Caribbean.

Provider
Moody's Investors Service
Moody's Investors Service

Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, protecting the integrity of credit. Our ratings and analysis track debt covering more than:

  • 130 countries
    11,000 corporate issuers
    21,000 public finance issuers
    76,000 structured finance obligations



Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Such independent credit ratings and research also contribute to efficiencies in fixed-income markets and other obligations, such as insurance policies and derivative transactions, by providing credible and independent assessments of credit risk.



Moody’s default studies validate our predictive ratings. Our published research and investor briefings draw thousands of attendees each year and keep investors current with the rationale underlying our credit opinions. 

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