S&P rates Regency Energy notes BB

Standard & Poor's said it assigned its BB issue-level rating and 4 recovery rating to Regency Energy Partners LP's and Regency Energy Finance Corp.'s issuance of $500 million of senior unsecured notes due 2022.

The partnership intends to the proceeds to repay borrowings outstanding under its revolving credit facility and for general partnership purposes.

As of March 31, Regency had about $5.8 billion of reported debt.

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