Sunoco L.P. recently provided an update on the sale of its 1,110 retail store locations to buyer 7-Eleven, with the belief that the transaction is in the latter stages of regulatory approval and the expectation of a closing date in January 2018. Sunoco expects gross proceeds from the sale will be about $3.3 billion, which will be used to strengthen the balance sheet. We are affirming our 'BB-' corporate credit rating on the company and revising the outlook to stable from negative. We are raising the issue-level rating on the partnership's senior secured debt to 'BB+' from 'BB', and revising the recovery rating on the debt to '1' from '2'. At the same time, we are affirming the 'B+' issue-level
