Fitch rates Prairie ECI loan BB-

Fitch Ratings said it assigned a first-time issuer default rating of BB- to Prairie ECI Acquiror, LP, along with a senior secured rating of BB- with recovery rating of RR2 to its proposed secured term loan offering.

The RR2 indicates 71% to 90% expected default recovery.

The outlook is stable.

The agency said it expects stable cash flow distributions up to Prairie.

Tallgrass Energy Partners LP will provide stable and modestly growing distribution to Prairie and its limited partner unit holders over the next several years, Fitch explained.

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