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S&P rates Energy Transfer notes BBB-
S&P said it assigned its BBB- issue-level rating to Energy Transfer Partners LP's senior notes due 2024, 2028, 2038 and 2048.
Energy Transfer’s subsidiary, Sunoco Logistics Partners Operations LP, will guarantee the notes on a senior unsecured basis.
The partnership intends to use a portion of the net proceeds to refinance its current maturities, including its $650 million 2.5% senior notes due on June 15, its $600 million 6.7% senior notes due on July 1 and its subsidiary's $400 million 7% senior notes due on June 15.
It also intends to use some of the net proceeds to repay the outstanding borrowings under its credit facility and for general partnership purposes.
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