Fitch ups, withdraws Rattler Midstream

Fitch Ratings said it upgraded Rattler Midstream, LP's long-term issuer default rating to BBB from BB+, removed the rating watch positive and assigned a stable outlook. Simultaneously, the agency withdrew the IDR and the BB+/RR4 rating on the unsecured notes.

Fitch withdrew the ratings following the acquisition of the company's equity by Diamondback Energy Inc., rated BBB, and the subsequent prepayment of all debt that was previously issued and outstanding at Rattler.

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