S&P puts Andeavor on positive watch

S&P said it placed its BBB- corporate credit and issue-level ratings on Andeavor on CreditWatch with positive implications.

At the same time, S&P placed the BBB- corporate credit and senior unsecured issue-level ratings on its midstream energy MLP, Andeavor Logistics LP, on CreditWatch with positive implications.

“The CreditWatch listing on Andeavor reflects our expectation that we will raise our ratings on the company in line with MPC [Marathon Petroleum Corp.] once the transaction closes,” S&P said in a news release.

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