S&P provides BB to MarkWest notes

Standard & Poor's said it assigned its BB issue-level rating and 4 recovery rating to MarkWest Energy Partners LP's and MarkWest Energy Finance Corp.'s $1.2 billion senior unsecured notes due 2025.

The partnership intends to use net proceeds to fund the tender offers for the existing 2020 notes, 2021 notes and 2022 notes; to repay amounts outstanding on its revolving credit facility; and for general partnership purposes.

As of March 31, MarkWest had about $4.2 billion of balance-sheet debt.

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