EV Energy Partners L.P. Senior Unsecured Notes Upsized To $500 Million; 'B-' Rating On Notes Unchanged Mar 12
- ID: 2086542
- March 2012
- Standard & Poors
NEW YORK (Standard & Poor's) March 8, 2012--Standard & Poor's Ratings Services today said that Houston-based EV Energy Partners (EVEP) has increased the amount of its add on to its existing senior unsecured notes due 2019 to $200 million. This brings the new total on the notes to $500 million. The 'B-' rating on these notes remains unchanged. The recovery rating remains '5', reflecting our expectation for modest (10% to 30%) recovery for lenders in the event of a payment default. "Our recovery analysis incorporates EVEP's plan to use the proceeds to reduce its outstanding revolver balance," said Standard & Poor's credit analyst Marc Bromberg. For the complete recovery analysis, see Standard & Poor's recovery report on EVEP to be...
Companies mentioned in this report are: EV Energy Partners L.P.
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.