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S&P hikes Crestwood Equity
S&P said it raised its ratings on Crestwood Equity Partners LP and removed them from CreditWatch with positive implications on Aug. 16 following Energy Transfer LP’s acquisition of the company.
The agency raised its ratings on Crestwood and its senior unsecured notes to BBB from BB and its preferred units to BB+ from B.
“We raised our rating on Crestwood to BBB with a stable outlook to equalize it with the rating on Energy Transfer because we now consider Crestwood to be a core entity of Energy Transfer,” S&P said in a press release.
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