S&P: Atlas Pipeline to negative

Standard & Poor's said it revised its outlook on Atlas Pipeline Partners LP to negative from stable.

At the same time, the agency affirmed its B+ corporate credit and senior unsecured debt ratings on Atlas.

The recovery rating on the senior unsecured debt is 3, indicating an expectation for meaningful (50% to 70%) in the event of a payment default.

"We based the outlook revision on Atlas' lower cash flows and higher financial leverage than we previously expected," S&P credit analyst Nora Pickens said in a news release.

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