Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers V > Headlines for Valero Energy Partners LP > News item |
Fitch ups Valero Energy Partners
Fitch Ratings said it upgraded Valero Energy Partners LP's long-term issuer default rating and senior unsecured rating to BBB from BBB- following the closing of the acquisition by its parent, Valero Energy Corp., on Jan. 10 for $42.25 per common unit for a total consideration of $950 million.
Valero Energy Partners' senior unsecured notes have been guaranteed on an unconditional and irrevocable basis.
Fitch affirmed Valero Energy's long-term issuer default rating at BBB.
The outlook is stable.
“VLP's debt is pari passu with VLO and the ratings are equalized,” the agency said in a news release.
© 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.