NEW YORK (Standard&Poor's) July 29, 2013--Standard&Poor's Ratings Services said today it assigned its 'BB-' issue-level rating and '4' recovery rating to Tesoro Logistics L.P.'s and Tesoro Logistics Finance Corp.'s proposed $300 million senior unsecured notes due 2021. The recovery rating of '4' indicates our expectation of average (30% to 50%) recovery if a payment default occurs. The partnership intends to use net proceeds to reduce borrowings under its secured revolving credit facility, which it used to partially fund the cash portion of the $640 million Carson refinery acquisition from Tesoro Refining&Marketing Co. LLC, a subsidiary of parent Tesoro Corp., on June 1, 2013. San Antonio-based Tesoro Logistics is a midstream energy partnership that gathers,
