S&P rates Southern Star notes BB+

Standard & Poor's said it assigned a BBB- rating to Southern Star Central Gas Pipeline Inc.'s proposed $230 million senior unsecured notes and a BB+ to Southern Star Central Corp.'s proposed $200 million senior unsecured notes. The outlook is stable.

Proceeds from the proposed notes would be used to repay existing debt and related fees and expenses.

S&P said the ratings reflect the company's strong business risk profile and intermediate financial profile. Credit strengths include the company's access to diverse gas supplies, healthy markets, favorable FERC regulation, manageable recontracting risk and strong competitive position.

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