Fitch ups Sunoco revolver

Fitch Ratings said it raised Sunoco LP’s senior secured revolver rating to BBB-/RR1 from BB+/RR1.

The upgrade is based upon the updated "Corporates Recovery Ratings and Instrument Ratings Criteria," the agency said.

Fitch said it removed the ratings from under criteria observation, where they were placed following the publication of the updated recovery rating criteria on April 9.

The agency also affirmed Sunoco’s long-term issuer default rating at BB and the BB/RR4 ratings on the senior unsecured bonds issued by Sunoco and Sunoco Finance Corp.

The outlook remains positive.

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