| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers E > Headlines for El Paso Pipeline Partners Operating Co. LLC > News item |
S&P: El Paso Pipeline notes BB
Standard & Poor's said it assigned a BB senior unsecured debt rating to El Paso Pipeline Partners Operating Co. LLC's $500 million senior unsecured notes due 2021.
The agency also said it placed the rating on CreditWatch with positive implications.
The notes were assigned a recovery rating of 4, indicating 30% to 50% expected recovery in a default.
El Paso Pipeline Partners LP fully and unconditionally guarantees the notes.
The proceeds will be used to reduce outstanding borrowings under its revolving credit facility and for general partnership purposes.
The BB long-term corporate credit rating on El Paso Pipeline Partners is tied to the rating on El Paso Corp., S&P said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.