Moody's upgrades Brazos

Moody’s Investors Service said it upgraded Brazos Delaware II, LLC’s corporate family rating to B2 from B3, its probability of default rating to B2-PD from B3-PD, and its senior secured term loan rating to B2 from B3.

“The upgrade of Brazos’ ratings reflects Brazos’ higher EBITDA and significant deleveraging supported by increased volumes on its midstream system in the Delaware basin,” the agency said in a press release.

The outlook remains stable.

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