Moody’s rates Tallgrass notes B1

Moody’s Investors Service said it rated Tallgrass Energy Partners LP’s planned $700 million of senior unsecured notes due 2029 B1.

All other ratings of Tallgrass and its parent, Prairie ECI Acquiror LP, are unchanged, including Prairie's B1 corporate family rating, Moody’s said.

Tallgrass plans to use the proceeds to repay its $600 million of senior unsecured notes due 2025 and repay a portion of the balance on its revolving credit facility.

The stable outlook is unchanged.

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