TEXT-S&P bulletin on Buckeye Partners

(The following statement was released by the rating agency)

March 4 - Standard & Poor's Ratings Services said today that midstream
energy company Buckeye Partners L.P.'s (BPL.N: Quote, Profile, Research) (BBB/Negative/--) announcement
that it has entered into a definitive agreement to sell the retail division of
its Farm & Home Oil Company LLC (Farm & Home) subsidiary to a wholly owned
subsidiary of Inergy L.P. (BB-/Stable/--) for about $42 million will not affect
the company rating or outlook. We view the sale as somewhat supportive of
credit, as Buckeye will not have to manage a retail customer base that was a
smaller part of Farm & Home's overall business mix. With a less-expansive
business line portfolio, Buckeye can focus on integrating the wholesale
division's customers in Buckeye's pipeline system, adding about $20 million of
EBITDA in 2008.
(New York Ratings Team)