Moody's says Sunoco LP's acquisition of terminals is credit positive
Announcement: Moody's says Sunoco LP's acquisition of terminals is credit positive. Global Credit Research- 04 Aug 2021. New York, August 04, 2021-- Moody's Investors Service said that Sunoco LP's planned acquisition of eight refined products terminals from NuStar Energy L.P. and one terminal from Cato, Incorporated for a combined price of $255.5 million is credit positive.NuStar Energy is engaged in the transportation of petroleum products and anhydrous ammonia, and the terminalling, storage and marketing of petroleum products. The company's reportable business segments are: pipeline, which consist of the transportation of refined products, crude oil and anhydrous ammonia; storage, which provide storage, handling and other services for petroleum products, crude oil, chemicals and other liquids; and fuels marketing, which includes its bunkering operations at its St. Eustatius and Texas City terminals, as well as certain of its blending operations.
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