Fitch rates MarkWest notes BB

Fitch Ratings said it assigned BB ratings to MarkWest Energy Partners, LP's proposed issuance of $1 billion senior unsecured notes due 2023. The notes are to be co-issued by MarkWest and MarkWest Energy Finance Corp.

The new notes are to rank pari passu with the company's senior unsecured debt.

The outlook is stable.

Key rating factors that support the rating include a modestly diverse footprint with leading positions in the liquids-rich areas in the Mid-continent and Appalachia; strategically well-positioned assets with exposure to the rapidly growing Marcellus and Utica shale plays; an increasing amount of fee-based revenue sources and a layered hedging strategy; and a strategy to fund growth with a balanced combination of debt and equity.

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