Sunoco Logistics put on negative credit watch
PHILADELPHIA | The corporate credit rating of Sunoco Logistics Partners was placed on credit watch with negative implications by Standard & Poor’s Ratings Services on Wednesday, a day after Sunoco Inc. said it was getting out of the refining business.
The credit watch listing means S&P could either lower or affirm the company’s ratings after a review. Sunoco Logistics carries an investment-grade “BBB” corporate credit rating.
S&P analysts said the action follows Sunoco’s decision to exit refining and conduct a strategic review of its businesses. Sunoco Inc. owns about 34 percent of Sunoco Logistics through general partner and limited partner interests.
© Copyright 2013 The Washington Times, LLC. Click here for reprint permission.
Independent voices from the TWT Communities
Politics, economics, and business from a real world perspective.
Taking a deeper look at the undeniable connection between mind and body from a writer and speaker on matters of health, and a practitioner of Christian Science.
Entertainment News and Reviews from Washington, D.C. and beyond.
A carefully guided tour through the confusing world of modern bookselling and publishing.
Tea Party blasts IRS
Frederick Douglass statue unveiled
World's Ugliest Dog Contest
Spelling Bee finale
Marines train Afghan soldiers
Rolling Thunder 2013