By Michael Laitkep
With market and energy volatility continuing, today's note follows up on last week's piece on MLP leverage by examining two prevalent questions emerging from the current market environment: 1) Are any MLPs facing refinancing risk due to near-term debt maturities? and 2) What happens to index yields in various distribution cut scenarios? Today's piece addresses these questions by examining the timeline of MLP debt maturities and providing a scenario analysis of index yields with various distribution cut assumptions for the constituents of the Alerian MLP Infrastructure Index (AMZI).
When is MLP debt