U.S. midstream energy partnership Sunoco L.P. distributes motor fuel to convenience stores, independent dealers, commercial customers, and distributors. We are assigning our 'BB' corporate credit rating with a stable outlook to Sunoco L.P. We are also assigning our 'BB' issue-level rating with a '4' recovery rating to the partnership's $800 million senior unsecured notes, and our 'BB+' issue-level rating with a '2' recovery rating to the partnership's $1.25 billion senior secured revolving credit facility. The 'BB' rating reflects Sunoco L.P.'s "satisfactory" business risk profile and "aggressive" financial risk profile. The stable outlook reflects our belief that the partnership will maintain near-term total debt to EBITDA in the 4.5x area and adequate liquidity as it funds organic growth and acquires assets
