SemGroup Corporation: Update to credit analysis - rating placed under review for upgrade pending acquisition by Energy Transfer
Small scale midstream company is taking steps to reduce its elevated leverage through divestments and investment-led growth following strategic acquisition in 2017SemGroup provides gathering, transportation, storage, distribution, marketing and other midstream services primarily to producers, refiners of petroleum products and other market participants located in the Gulf Coast, Midwest and Rocky Mountain regions of the U.S. and Canada. The company conducts its primary business through three business segments: U.S. Liquids, which operates crude oil pipelines, truck transportation, storage, terminals and marketing businesses in the U.S.; U.S. Gas, which provides natural gas gathering, processing and marketing services; and Canada, which owns and operates natural gas processing and gathering facilities in Alberta, Canada.
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