S&P rates SunCoke notes BB-

Standard & Poor's said it assigned its BB- corporate credit rating to SunCoke Energy Partners LP, a master limited partnership in the metals and mining sector.

The outlook is stable.

S&P also assigned a BB- issue-level rating to the proposed $150 million senior unsecured notes due 2020 co-issued by SXCP and SunCoke Energy Partners Finance Co. The recovery rating on the proposed notes is 3, indicating S&P's expectation for meaningful (50% to 70%) recovery in the event of payment default.

The rating reflects S&P's view of SXCP and SXC's "weak" business risk and "aggressive" financial risk. S&P's view of the business takes into consideration that, as an independent producer of high-grade metallurgical coke, SXCP has limited operating diversity, very high customer concentration, cyclical demand from customers, high capital requirements for new facilities, and a limited operating diversity.

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