S&P: Suburban Propane on watch

Standard & Poor's said it placed the BB corporate credit and senior unsecured ratings on Suburban Propane Partners LP and placed them on CreditWatch with negative implications.

The agency also said it affirmed the BB- corporate credit rating on Inergy LP and placed the partnership's unsecured debt ratings on CreditWatch with developing implications.

The watch reflects a view that the partnership's higher pro forma financial leverage more than offsets the benefits of the increased scale of its propane business, S&P said.

Suburban's business risk profile remains weak primarily due to a view of the industry risks, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.