Pembina Pipeline Corporation Provides Business Update

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S&P Affirms Ratings on Pembina Pipeline (PBA) Amid Paramount Resources Asset Acquisition

March 22, 2016 11:40 AM EDT

Standard & Poor's Ratings Services said it affirmed its ratings on Pembina Pipeline Corp. (NYSE: PBA), including its 'BBB' long-term corporate credit rating on the company. The outlook is stable.

Pembina announced the purchase of the Kakwa sour gas processing facility, associated pipeline and other infrastructure assets from Paramount Resources Ltd. (B-/Stable/--) for approximately C$556 million. We expect Pembina to finance the transaction through a combination of a C$300 million bought deal equity financing with a C$45 million over-allotment option, and draws on Pembina's revolving credit... More