S&P: Holly Energy unchanged

Standard & Poor's said the BB corporate credit rating and stable outlook on Holly Energy Partners LP and the B+ issue ratings and 5 recovery ratings on the senior unsecured debt are unaffected by the company's recent upsize of its senior secured revolving credit facility to $375 million from $275 million.

Although an increase in secured revolver borrowings could reduce residual collateral available to unsecured lenders, the agency said it believes Holly Energy's recent growth and higher expected valuation in a default scenario offset the increase in priority claims.

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