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S&P rates Sunoco Logistics notes BBB
Standard & Poor’s said it assigned a BBB rating to the proposed note issuance of Sunoco Logistics Partners Operations LP, a wholly owned subsidiary of Sunoco Logistics Partners LP.
The agency also said the BBB rating on the company’s 4.25% notes due 2024 is unchanged following news that it intends to upsize the issuance.
The partnership intends to use the proceeds to repay outstanding borrowings under its revolving credit facility and for general partnership purposes, S&P said.
The outlook is stable.
The company’s corporate credit rating is BBB and its outlook is stable.
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