S&P: Hi-Crush view now stable

S&P said it revised its outlook on Hi-Crush Partners LP to stable from negative and affirmed its B- corporate credit rating on the company.

S&P also affirmed the B issue-level rating on the company's senior secured debt. The recovery rating on the debt is 2, indicating an expectation for substantial recovery (70% to 90%; rounded estimate: 80%) in the event of payment default.

“Our forecasts for Hi-Crush anticipate improving financial performance for 2017 and 2018, driven by the ongoing recovery in the oil and gas end markets,” said S&P credit analyst Patricia Mendonca in a news release.

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