Moody's Ratings upgrades CQP Holdco's senior secured debts to Ba2; outlook stable

CQP Holdco LP: Improved credit profile of CQP lifts Holdco's ratings - Credit Opinion – 2024/05/09 – US$ 250.00 – ...All figures and ratios are based on adjusted financial data and incorporate Moody's Ratings Global Standard Adjustments for Non-Financial Corporations. Periods are fiscal year end unless indicated. Moody's Ratings forecasts are our opinion and do not represent the views of the issuer. Source: Moody's Financial Metrics and Moody's Ratings forecasts...

Moody's rates CQP Holdco's new senior secured term loan and senior secured notes B1; outlook is stable - Rating Action – 2023/12/04 – US$ 180.00 – ...MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT...

CQP Holdco LP: Steady cash flows from project subsidiary support debt and shareholder distributions - Credit Opinion – 2023/10/17 – US$ 250.00 – ...All scores are based on adjusted financial data and incorporate Moody's Global Standard Adjustments for Non-Financial Corporations. Periods are fiscal year-end unless indicated. LTM = Last 12 months as of 30 June 2023. Moody's forward view is Moody's opinion and does not represent the views of the issuer Source: Moody's Financial MetricsTM and Moody's Investors Service forecasts...

Moody's says CQP Holdco's ratings unaffected from term loan offering - Announcement – 2023/02/03 – US$ 180.00

CQP Holdco LP: Earnings and leverage position strengthen in step with higher distributions received - Credit Opinion – 2022/12/12 – US$ 250.00 – ...CQP Holdco LP's (CQP Holdco) improved credit profile is supported by the predictability and recurring nature of the long-dated, contractually derived cash flow distributed through CQP (Ba1 stable) to CQP Holdco, which holds a 41% limited partner (LP) stake in CQP. The market value of its investment in CQP approximates $12.6 billion (as of November 30, 2022), allowing for good collateral coverage of its debt, with a 31% loan-to-value on CQP Holdco's $3.9 billion in secured debt. The stability and magnitude of this cash flow stream is tempered by the significant extent to which CQP Holdco's secured debt is structurally subordinated to CQP's debt and project debt that has financed CQP's principal asset, the Sabine Pass liquefied natural gas (LNG) export facility (Sabine Pass Liquefaction, LLC or SPL, Baa2 stable). CQP Holdco's rating is further supported by the substantial governance rights it maintains over CQP's operations and strategic planning by virtue of its majority membership on the...