S&P Lowers Outlook On Spectra Energy On Cash Flow

NEW YORK (AP) — Standard & Poor's Rating Service on Tuesday lowered its outlook on Spectra Energy Corp., citing concerns over the impact of low commodity prices on the natural gas transport and storage company.

The outlook was reduced to "Negative" from "Stable." S&P affired its long-term corporate credit rating at "BBB+," which is investment grade.

In a note to investors, S&P analyst William Ferara wrote that about three-quarters of Spectra's cash flow comes from relatively stable assets with fixed fees. However, he noted that low commodity prices are impacting segments such as Spectra's DCP Midstream LLC. ...