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Fly News Breaks for January 13, 2016
PAA, PAGP
Jan 13, 2016 | 08:58 EDT
Stifel analyst Selman Akyol downgraded Plains GP Holdings (PAGP) to Hold saying the private placement of preferred units by Plains All American (PAA) is a negative for the company. The analyst previously expected Plains GP Holdings' cash flow growth to be driven by common unit issuance at Plains All American. His downgrade reflects a reduced need for common equity at Plains All American. JPMorgan this morning also downgraded Plains GP Holdings.
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