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Atlas Pipeline Partners' Assigned 'BB-' Corp Credit Rating; $250 Mil Notes Rated 'B+' Dec 05 Product Image

Atlas Pipeline Partners' Assigned 'BB-' Corp Credit Rating; $250 Mil Notes Rated 'B+' Dec 05

  • Published: December 2005
  • Standard & Poors

FEATURED COMPANIES

  • Southwestern Energy Co.
  • MORE

Abstract
NEW YORK (Standard & Poor's) Dec. 6, 2005--Standard & Poor's Ratings Services said today it assigned its 'BB-' corporate credit rating to midstream natural gas master limited partnership (MLP) Atlas Pipeline Partners L.P. (APL). At the same time, Standard & Poor's assigned its 'B+' rating to the company's proposed $250 million senior unsecured notes due 2015. The outlook is stable. The Moon Township, Pa.-based partnership will have about 258.5 million of debt after issuing the notes. In addition, APL has $39.6 million of NOARK Pipeline Finance LLC debt on its balance sheet that is severally guaranteed by Southwestern Energy Co. and paid solely from amounts otherwise distributable by NOARK to Southwestern attributable to their 25% ownership. Proceeds from the note...

Companies mentioned in this report are:
- Atlas Pipeline Partners L.P.
- Southwestern Energy Co.
- Noark Pipeline Finance, L.L.C.

Action: New Rating

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 READ MORE >

- Atlas Pipeline Partners L.P.
- Southwestern Energy Co.
- Noark Pipeline Finance, L.L.C.

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