Moody's Investors Service said Monday its placed the debt ratings of natural gas company Atlas Pipeline Partners LP on review for possible downgrade, citing rising debt and shrinking cash.
The ratings agency said it could downgrade Atlas' corporate family and probability of default ratings, both currently ranked "B1." The rating is considered non-investment or "junk" grade.
Also under review is the "B3" senior unsecured rating.
Moody's said its review will gauge the company's operating performance and costs, as well as its earnings outlook and spending plans for this year. The agency is concerned about Atlas' tight debt agreements with banks, pressured liquidity and high financial leverage.
About $1.5 billion in debt is affected by the ratings.
Atlas closed up 3 cents at $4.06 Monday.
source: yahoo
The ratings agency said it could downgrade Atlas' corporate family and probability of default ratings, both currently ranked "B1." The rating is considered non-investment or "junk" grade.
Also under review is the "B3" senior unsecured rating.
Moody's said its review will gauge the company's operating performance and costs, as well as its earnings outlook and spending plans for this year. The agency is concerned about Atlas' tight debt agreements with banks, pressured liquidity and high financial leverage.
About $1.5 billion in debt is affected by the ratings.
Atlas closed up 3 cents at $4.06 Monday.
source: yahoo
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