S&P keeps MarkWest on negative watch

Standard & Poor's said it ratings on MarkWest Energy Partners LP (B+/Watch negative/--) remain on CreditWatch with negative implications following the company's announcement that it has agreed to purchase the Javelina processing and fractionation facility in Corpus Christi, Texas, from El Paso Corp., Kerr-McGee Corp. and Valero Energy Corp. for $355 million.

S&P said the CreditWatch listing will be resolved as additional information becomes available on the acquisition's impact on MarkWest Energy's business and financial risk profiles.

The transaction is expected to close in the fourth quarter.

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