Fitch gives Viper Energy notes BB-

Fitch Ratings said it gave BB-/RR4 ratings to Viper Energy Partners LP's planned senior unsecured notes due 2031.

The ratings are the same as Fitch’s on Viper’s outstanding $500 million of 5 3/8% notes due 2027.

Viper intends to use the proceeds, new equity and cash on hand to fund the about $1 billion purchase price of certain mineral and royalty interests from affiliates of Warwick Capital Partners and GRP Energy Capital. The transaction is expected to close in the middle of 4Q23.

The outlook is positive.

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