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S&P: HollyFrontier unchanged on add-on
S&P said the BBB- rating on HollyFrontier Corp.'s $250 million 5 7/8 % senior unsecured notes due 2026 is unchanged after the company announced its intention to add on to the issue.
The proceeds from the add-on will be used for general corporate purposes, which may include a portion of the purchase price for Petro-Canada Lubricants Inc. and capital spending.
HollyFrontier owns and operates five refineries that have a combined crude oil processing capacity of 457,000 barrels per day, S&P explained.
The company has a BBB- corporate credit rating with stable outlook.
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