Moody’s raises Antero Midstream notes

Moody’s Investors Service said it upgraded Antero Midstream Partners LP’s senior unsecured notes to B3 from Caa1 and changed the company’s outlook to stable from negative.

Moody’s concurrently affirmed Antero’s B2 corporate family rating and B2-PD Probability of default rating. The speculative grade liquidity rating is unchanged at SGL-3.

These actions follow the upgrade of Antero Resources Corp., which is Antero Midstream’s primary upstream customer.

“Antero Midstream should face reduced counter-party credit risk and have better cash flow visibility as Antero Resources continues to address its near-term debt maturities and reduces leverage,” said Sajjad Alam, a Moody’s senior analyst, in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.