Moody's affirms ONEOK's Baa2 ratings and places Magellan's Baa1 ratings on review for downgrade
Moody's Investors Service (Moody's) affirmed the Baa2 senior unsecured ratings of ONEOK, Inc. (ONEOK) and ONEOK Partners, L.P. ONEOK's Prime-2 commercial paper (CP) rating was affirmed. The outlook on ONEOK's and ONEOK Partners, L.P.'s ratings remains stable. Concurrently, Moody's placed on revie...Magellan Midstream Partners is engaged in the transportation, storage and distribution of refined petroleum products and crude oil. The company's segments are: refined products, which consists of its refined products pipeline system, independent terminals and ammonia pipeline system; crude oil, which comprises crude oil pipelines, condensate splitter and storage facilities and ships crude oil as a common carrier for customers including crude oil producers, end users such as refiners, and marketing and trading companies; and marine storage, which owns and operates marine storage terminals located along coastal waterways.
Oneok is a midstream service provider. The company's segments include: Natural Gas Gathering and Processing, which provides midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma; natural gas liquids (NGLs), which owns and operates facilities that gather, fractionate, treat and distribute NGLs and store NGL products, primarily in Oklahoma, Kansas, Texas, New Mexico and the Rocky Mountain region; and Natural Gas Pipelines, which provides transportation and storage services to end users through its wholly owned assets and its ownership interests in Northern Border Pipeline Company and Roadrunner Gas Transmission, LLC.
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