...NEW YORK (S&P Global Ratings) Jan. 8, 2018--S&P Global Ratings today raised its issue-level rating on Sunoco L.P.'s senior unsecured debt to '##-' from 'B+' and revised its recovery rating on the debt to '3' from '5', pro forma for the completion of the sale of its retail assets to 7-Eleven Inc. in January 2018. At the same time, we assigned our '##-' issue-level rating and '3' recovery rating to Sunoco L.P. and Sunoco Finance Corp.'s proposed senior unsecured notes due 2023, 2026, and 2028. The '3' recovery rating reflects our expectation of meaningful (50%-70%; rounded estimate: 65%) recovery if a payment default occurs. The '##+' issue-level rating and '1' recovery rating on the partnership's senior secured are unchanged. The '1' recovery rating indicates our expectation of very high (90%-100%; rounded estimate: 95%) recovery if a default occurs. The partnership intends to use the net proceeds from the note offering, together with the consideration it receives from the pending 7-Eleven...
