S&P rates Atlas Pipeline senior notes B+

Standard & Poor's said it assigned its B+ issue-level rating to Atlas Pipeline Partners LP's and Atlas Pipeline Finance Corp.'s proposed $450 million senior unsecured notes due 2023. S&P also assigned a 3 recovery rating to the debt, indicating meaningful (50% to 70%) recovery of principal.

The partnership intends to use net proceeds to retire its existing 8æ% senior notes due 2018 and repay a portion of its senior secured revolving credit facility.

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