Moody's rates MarkWest notes B2

Moody's Investors Service said it affirmed MarkWest Energy Partners, LP's B1 corporate family and probability-of-default ratings, B2 (LGD4, 65% from 62%) senior unsecured note ratings and SGL-3 speculative grade liquidity rating.

The agency rated MarkWest's proposed $150 million senior unsecured notes offering B2 (LGD4, 65%).

The outlook is stable.

Moody's said the proposed notes will enhance the company's liquidity profile, as proceeds will be used to repay revolver borrowing.

The affirmation reflects MarkWest's strong position as the largest natural gas gatherer and processor in the Woodford and Marcellus shales, the agency said.

Ratings are constrained by MarkWest's significant volume and commodity price exposure, the agency noted.

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