Credit Rating Report
Northern Courier Pipeline Limited Partnership: Rating Report
Infrastructure and Project FinanceSummary
On June 30, 2020, DBRS Limited (DBRS Morningstar) downgraded Northern Courier Pipeline Limited Partnership’s (NCPLP or ProjectCo) Issuer Rating and the rating on its fixed-rate, first-lien senior-secured amortizing $1 billion Senior Notes (the Senior Notes) to BBB (high) from A (low). Both trends are Stable. DBRS Morningstar also removed the ratings from Under Review with Negative Implications, where they were placed on March 27, 2020.