S&P rates Archrock notes B+

S&P said it assigned its B+ issue-level rating and 4 recovery rating to Archrock Partners LP’s proposed $400 million senior unsecured notes due in 2028. The 4 recovery rating indicates S&P’s expectation for average (30%-50%; rounded estimate: 40%) recovery in the event of a payment default.

Archrock intends to use the proceeds to refinance a portion of its credit facility balance and for general partnership purposes.

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