NEW YORK--(BUSINESS WIRE)--Fitch Ratings has published a new report highlighting the key peer comparator elements for Master Limited Partnerships (MLPs), pipeline and midstream issuers.
The sector risk profile defines and groups companies operating in the sector into a 'natural rating territory' based on Fitch's view of the inherent risk profile of the industry. Each company's overall risk profile generally does not stray too far from this rating range.
After assessing the operating environment, then management and corporate governance, the Navigator examines four sector-specific factors for given rating levels. Sector-specific key factors include the rated entities' scale of operations, business characteristics, company position and legal structure. Finally, three financial profile factors help capture financial attributes commensurate with particular rating categories.
The report, entitled 'MLPs/Pipelines/Midstream Ratings Navigator' is available at www.fitchratings.com or by clicking the link above. This report should be read in conjunction with the 'Introducing Rating Navigators for Corporates' report dated Nov. 5 and the 'MLPs/Pipelines/Midstream Navigator Reference File' dated Dec. 4, 2014.
For more information, please visit corporatesshowcase.fitchratings.com/navigator.htm.
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria and Related Research: Midstream, Pipelines and MLPs: Ratings Navigator Companion