S&P lifts Exterran rating

Standard & Poor's said it assigned a sacp of b to Exterran Partners LP and raised the corporate credit rating on Exterran Partners to B+ from B. The outlook is stable.

At the same time, S&P raised the issue-level rating on Exterran Partners' senior unsecured debt to B from B-. The recovery rating on the company's unsecured debt remains a 5, indicating modest (10% to 30%) recovery in the event of a payment default.

S&P said the upgrade primarily reflects the enhanced support from 39%-owner Exterran Holdings, in the form of $150 million temporary equity backstop and increased operating costs caps; Exterran Partners' improving operating and credit measures; and its improved scale (increased available horsepower) through a previously announced asset acquisition.

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