EV Energy Partners L.P. Senior Unsecured Notes Upsized To $400 Million; 'B-' Rating On Notes Unchanged Mar 12
- Language: English
- Published: March 2012
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.
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EV Energy Partners L.P.