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Moody’s Cuts Deer Park Refining L-T Rating To A2

The Wall Street Journal: Moody’s Cuts Deer Park Refining L-T Rating To A2

“The long-term rating downgrade primarily reflects the impact of Moody’s downgrade in May 2004 of Deer Park’s 50% owner, Shell Oil Company”

DOW JONES NEWSWIRES

July 30, 2004 5:48 p.m.

Posted 31 July 04

The following is a press release from Moody’s Investors Service:

New York, July 30, 2004 — Moody’s Investors Service downgraded Deer Park Refining L.P.’s (Deer Park) long-term debt to A2 from A1 and confirmed the company’s Prime-1 commercial paper rating. The rating outlook is stable. Deer Park is a refinery project joint-venture owned 50% by Shell Oil Company and 50% by P.M.I. Norteamerica, a subsidiary of Petroleo Mexicano (PEMEX, rated Baa1 foreign currency). It is financed on a non-recourse basis to its owners. The long-term rating downgrade primarily reflects the impact of Moody’s downgrade in May 2004 of Deer Park’s 50% owner, Shell Oil Company to Aa2 from Aa1. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Moody’s Cuts Motiva Enterprises L-T Debt To A2

The Wall Street Journal: Moody’s Cuts Motiva Enterprises L-T Debt To A2

“The long-term rating downgrade primarily reflects the impact of Moody’s downgrade in May 2004 of Motiva’s 50% owner, Shell Oil”

DOW JONES NEWSWIRES

July 30, 2004 4:44 p.m.

Posted 31 July 04

The following is a press release from Moody’s Investors Service:

New York, July 30, 2004 — Moody’s Investors Service downgraded Motiva Enterprises LLC’s long-term debt to A2 from A1 and confirmed the company’s Prime-1 commercial paper rating. The rating outlook is stable. Motiva Enterprises is a refining and marketing joint-venture owned 50% by Shell Oil Company (Aa2, stable) and 50% by Saudi Refining Inc. (not rated). Motiva is financed on a non-recourse basis to its owners. The long-term rating downgrade primarily reflects the impact of Moody’s downgrade in May 2004 of Motiva’s 50% owner, Shell Oil Company, to Aa2 from Aa1. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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