The document provides an investment recommendation to buy Plains All American 10-year bonds. The rationale includes a revised outlook on PAA's rating to negative by S&P due to higher than anticipated leverage, but Moody's maintains a stable Baa2 rating. The document discusses the impact of an oil spill off Santa Monica, CA, and the subsequent cleanup efforts. It also highlights the relative value of PAA bonds compared to other MLPs after a recent spread widening.
documents/EFTA01378317.pdf
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