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Moody's gives Genesis notes B1
Moody's Investors Service said it assigned a B1 rating to the new $300 million unsecured senior notes offering by Genesis Energy LP.
Proceeds will be used for capital spending and repaying outstanding borrowings under its revolving credit facility.
Genesis's other ratings are unchanged and the outlook remains stable.
"The new notes will increase liquidity and Genesis Energy's flexibility to fund growth projects in 2014," Moody's analyst Arvinder Saluja said in a news release.
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