Fitch rates Brazos B+, loan BB-

Fitch Ratings said it assigned a B+ issuer default rating to Bison Midstream Holdings, LLC (Brazos) and a senior secured rating of BB-/RR3 to its proposed $900 million term loan B.

The outlook is stable.

Fitch said the rating for the proposed term loan reflects its expectation for good recovery at the lower end of the 50%-70% range for the debt security in the event of default.

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