What's Behind Standard & Poor's New Recovery Assumptions For U.S. Speculative-Grade Oil Refining Companies (00:07:54 min)
We recently introduced new assumptions for our recovery methodology to the debt of U.S.-based, speculative-grade-rated oil refining companies. In this CreditMatters TV segment, Standard & Poor's Associate Director David A. Kaplan, CFA, addresses key questions raised by these adjustments. Topics include a summary of the new valuation assumptions, what's spurring the assumptions, the treatment of refinery operations expected to be shut down or converted to storage terminals, and potential rating implications.
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