S&P affirms SemGroup

S&P said it affirmed its B+ corporate credit and senior unsecured ratings on SemGroup Corp. The outlook is stable.

The 4 recovery rating on the senior unsecured notes is unchanged, reflecting an expectation of average (30%-50%; rounded estimate: 35%) recovery in the event of default. The BB senior secured rating and 1 recovery rating are unchanged. The 1 recovery rating on the senior secured revolving credit facility reflects an expectation of very high (90%-100%; rounded estimate: 95%) recovery in the event of a payment default.

SemGroup Corp. has completed its acquisition of HFOTCO from Alinda Capital Partners.

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