GPP - Green Plain Partners: Tough Markets But MVCs Provide Floor
A master limited partnership with a distressed general partner never tends to trade well. Couple that with a general partner that is diversifying away from its core business and the situation gets worse. Green Plains Partners (GPP) finds itself in this position. Alongside weak distribution coverage and a tough end market for its specialty (ethanol storage), there has been a perfect storm of bad news.
Despite all the pressure, it looks like the company can manage to maintain the distribution as it stands. Given the high ownership interest of the parent company (Green