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Bulletin: MarkWest Energy Ratings Unaffected Re: Acquisition Announcement Dec 11
Standard & Poors, Dec 2011
Abstract
NEW YORK (Standard & Poor's) Dec. 13, 2011--Standard & Poor's Ratings Services said today that its ratings and outlook on MarkWest Energy Partners L.P. (BB/Stable/--) are not affected following the company's announcement that it has executed a letter of intent to acquire 49% of Liberty Midstream & Resources LLC from The Energy & Minerals Group (EMG) for $1 billion in cash plus 19.95 million Class B common units. The Class B units will convert to common units in five equal installments beginning July 1, 2013 and will not pay a distribution prior to conversion. At the same time, MarkWest and EMG announced their intent to develop midstream infrastructure in the Utica Shale region, with EMG funding the majority of initial...
Companies mentioned in this report are: MarkWest Energy Partners L.P.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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