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S&P rates USA Compression notes B+
S&P said it assigned a B+ rating and 4 recovery rating to the proposed senior unsecured notes due 2027 issued by USA Compression Partners LP and USA Compression Finance Corp.
The 4 recovery rating indicates 30% to 50% expected default recovery.
The agency said it revised the recovery rating on the partnership's existing $725 million 6 7/8% unsecured notes due 2026 to 4 from 3.
The proceeds will be used to refinance debt under its credit facility, which had $1.05 billion outstanding as of Dec. 31, 2018, S&P said.
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