Moody'shas placed NGPL PipeCo LLC'sratings on review for upgrade, citing the company's new ownership and its plansto restructure its balance sheet and eliminate liquidity issues.
The ratingsplaced on review include NGPL's probability-of-default rating, corporate familyrating, senior secured bank credit facility and senior secured regular bond/debenture.Moody's previous outlook on the company was negative.
The company'sspeculative grade liquidity rating was also changed to SGL-3 from SGL-4, reflectingan increase in internal liquidity due to a reduced debt burden.
NGPLPipeCo LLC is a joint venture between KinderMorgan Inc. and Brookfield Infrastructure Partners. It owns .