Recovery Report: MarkWest Energy Partners L.P.'s Recovery Rating Profile Feb 12
- ID: 2047794
- February 2012
- Standard & Poors
Standard & Poor's Rating Services is updating its recovery analysis on MarkWest Energy Partners L.P. to reflect the partnership's increase of its secured revolving credit facility to $900 million from $750 million, and its acquisition of the remaining 49% in MarkWest Liberty Midstream & Resources LLC. its joint venture with The Energy & Minerals Group. Our recovery expectations and issue ratings on MarkWest's unsecured notes remain unchanged. Standard & Poor's simulated default scenario for MarkWest contemplates a default arising from compressed natural gas liquids (NGLs) margins and declining natural gas equity volumes due to production companies lowering their capital expenditures. We also assume that the partnership has limited access to the capital markets and is required to fund its working...
Companies mentioned in this report are:
- MarkWest Energy Partners L.P.
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