NBPL benefits from its highly predictable operating performance and no commodity price exposure.
NBPL currently has a 24 percent market share of Canadian natural gas exports to the United States and expects to benefit from future opportunities as U.
5 Bcf/d) on TCPL and NBPL by using spare capacity makes the most sense compared to other pipeline scenarios.
Midwest area by means of the TCPL East main line and NBPL systems.
natural gas pipelines and related assets, including NBPL
for $40 million and NBP will sell a 20% equity stake in NBPL
to TC PipeLines, LP for $300 million in cash.
Ratings affirmations for NBP and NBPL
are based on a recent review of operating results, updated business plans, and financial forecasts.
It is also uncertain whether Enron-affiliated companies will continue to operate NBP and NBPL
It is very possible that cash distributions to NBP from unregulated gathering and processing operations will exceed contributions from NBPL
in a couple of years.
The senior unsecured debt ratings of NBP and NBPL
are 'BBB+' and 'A-', respectively.
The senior unsecured ratings of both NBP, `BBB+', and NBPL
, `A-`, have been affirmed.
Project 2000 will allow NBPL
to have direct interconnections to all three Chicago area local distribution companies.