S&P rates Plains All American notes BBB

Standard & Poor's said it assigned its BBB issue-level rating to the proposed $500 million note issuance due 2044 of Plains All American Pipeline LP and PAA Finance Corp.

Plains' corporate credit rating is BBB and the outlook is positive.

The partnership intends to use net proceeds from the notes to repay outstanding borrowings under its commercial paper program and for general partnership purposes.

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