S&P gives Suburban Propane notes BB-

Standard & Poor's said it assigned its BB- issue-level rating and 4 recovery rating to Suburban Propane Partners LP and Suburban Energy Finance Corp.'s proposed $250 million senior unsecured notes due 2025.

The 4 recovery rating indicates an expectation of average (30% to 50%; upper half of the range) recovery if a payment default occurs.

The partnership intends to use net proceeds from the offering to repurchase the outstanding 7 3/8% senior unsecured notes due 2020.

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