{"id":22266,"date":"2013-06-18T03:03:46","date_gmt":"2013-06-18T07:03:46","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=22266"},"modified":"2013-06-18T03:03:46","modified_gmt":"2013-06-18T07:03:46","slug":"ung-placed-on-creditwatch-negative-by-sp","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=22266","title":{"rendered":"UNG Placed on CreditWatch-Negative by S&amp;P"},"content":{"rendered":"<p>Standard and Poor&#8217;s <a href=\"http:\/\/www.standardandpoors.com\/prot\/ratings\/articles\/en\/us\/?articleType=HTML&#038;assetID=1245353177581\">has announced<\/a>:<\/p>\n<blockquote>\n<ul>\n<li>We are placing our ratings on Union Gas Ltd. On CreditWatch with negative implications.\n<li>The placement reflects that on parent Spectra Energy Corp.\n<li>We will resolve this CreditWatch placement when we resolve the placement on Spectra.<\/ul>\n<p>The ratings on Union Gas, an Ontario-based natural gas distribution company, reflect Standard &#038; Poor&#8217;s view of the consolidated credit profile of its ultimate parent, Spectra, and the parent&#8217;s &#8220;strong&#8221; business risk profile, &#8220;significant&#8221; financial risk profile, and &#8220;satisfactory&#8221; management and governance score. Union Gas&#8217; monopoly-like market position, largely regulated asset base, and stable cash flow generation also support the ratings, in our opinion. We believe that the company&#8217;s significant financial risk profile and softer key credit ratios counterbalance these strengths.<\/p><\/blockquote>\n<p>I mentioned the review of Spectra on <a href=\"http:\/\/www.prefblog.com\/?p=22212\">June 12<\/a>, but was more concerned about Westcoast.<\/p>\n<p>Union Gas is the proud issuer of two preferred shares: UNG.PR.C and UNG.PR.D, which have been <a href=\"http:\/\/www.prefblog.com\/?p=9377\">discussed in passing<\/a> on PrefBlog.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Standard and Poor&#8217;s has announced: We are placing our ratings on Union Gas Ltd. On CreditWatch with negative implications. The placement reflects that on parent Spectra Energy Corp. We will resolve this CreditWatch placement when &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-22266","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22266"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22266\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}