S&P rates Boardwalk notes BBB-

S&P said it rated Boardwalk Pipelines LP's planned senior unsecured notes BBB-.

The rating is the same as that S&P assigned to the notes Boardwalk sold in 2020.

The company will use the proceeds to retire its $300 million of 4% notes outstanding due 2022 issued by Gulf South Pipeline Co. LLC and will use the remainder, if any, for general partnership purposes, which may include growth capital expenditures, the repayment of future long-term debt maturities, and additions to working capital.

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