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Published on 6/22/2022 in the Prospect News Bank Loan Daily and Prospect News Investment Grade Daily.

S&P gives Targa notes BBB-

S&P said it rated Targa Resources Corp.’s planned senior unsecured notes BBB-.

The agency affirmed Targa’s BBB- ratings on June 16 after it reported its planned acquisition of Lucid Energy.

The company intends to use the proceeds to fund a portion of the Lucid acquisition or for general corporate purposes.

The outlook is stable.


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