Moody's: Industrial Propane Sale is Credit Positive for Gibson
Toronto, February 13, 2017-- On February 13, 2017, Gibson Energy Inc. announced its intention to sell its Industrial Propane business for CAD412 million in cash to Superior Plus LP. Moody's Investors Service considers this is credit positive because Gibson will use the proceeds to reduce leverage, improve already good liquidity and improve its business risk profile. The rating is not affected because Gibson's leverage will remain high after the transaction and its...
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