Standard & Poor's cuts its rating on Buckeye Partners (BPL -1.4%) to BBB-, the brink of junk...

|About: Buckeye Partners L.P. (BPL)|By:, SA News Editor

Standard & Poor's cuts its rating on Buckeye Partners (BPL -1.4%) to BBB-, the brink of junk territory, noting the midstream energy company's weakening financial measures aren't expected to improve meaningfully until at least 2015. BPL's debt has increased significantly due to large acquisitions, and gross margins have not kept pace with the higher debt burden.