S&P might lift Southcross

S&P said it placed all of its ratings on Southcross Holdings Borrower LP, including the CCC issuer credit rating, on CreditWatch with positive implications.

Southcross Holdings announced that it had agreed to sell its Robstown natural gas liquid fractionation facility and interconnected 57-mile NGL pipeline to affiliates of EPIC Y-Grade Holdings LP.

The agency said it expects the company to use proceeds from the asset sale to fully repay all of its outstanding debt.

S&P said Southcross Energy Partners LP is unaffected by the transaction. •

“We plan to resolve the CreditWatch listing in November when we expect the proposed asset sale to close,” the agency said in a news release.

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