S&P revises Oneok debt recovery to 4

S&P said it reviewed the recovery and issue-level ratings for Oneok Inc. that were labeled under criteria observation after the agency published revised recovery ratings criteria on Dec. 7.

With the criteria review complete, S&P said it affirmed the company’s BB+ issue-level rating and revised the recovery rating to 4 from 3, indicating 50% to 70% expected default recovery.

These actions stem solely from the application of the revised recovery criteria and do not reflect any change in the company’s corporate credit rating on the company.

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