The Company intends to use the net proceeds from the sale of the Notes to redeem its outstanding
Gibson's ratings are supported by relatively stable and contracted cash flows from the Company's infrastructure assets, primarily crude oil storage terminals and gathering pipelines, and a strong competitive position. Gibson's ratings are constrained by earnings volatility in its Marketing segment, lack of geographic diversification, and a high dividend payout ratio.
A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework and its methodologies can be found at https://www.dbrsmorningstar.com/research/357792.
Notes:
All figures are in Canadian dollars unless otherwise noted.
The principal methodologies are Rating Companies in the Pipeline and Diversified Energy Industry (
For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.
The rated entity or its related entities did participate in the rating process for this rating action. DBRS Morningstar had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.
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