S&P: Superior Plus ratings unchanged

Standard & Poor's said that the ratings on Superior Plus LP (BB+/negative) are unaffected by the company's announcement to acquire certain of Sunoco Inc.'s retail heating oil and propane distribution assets (BBB/negative/A-3) for $82.5 million.

S&P said it believes the acquisition will diversify the company's propane distribution business and provide the company with entry into the U.S. market.

In addition, there will be an opportunity for Superior Plus to expand through small acquisitions, because the northeastern U.S. oil and propane distribution market is highly fragmented, S&P said.

The agency does not expect the acquisition to affect the company's leverage.

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