Moody's gives BlackBrush loan Caa1

Moody's Investors Service said it assigned a Caa1 corporate family rating to BlackBrush TexStar LP.

Moody's also assigned a Caa1 senior secured rating to the company's proposed $675 million term loan B.

The outlook is stable.

The proceeds of the term loan B will be used to repay a $225 million shareholder loan, to fund a drilling program in South Texas and to complete the construction of midstream infrastructure projects.

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