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S&P might lift Eagle Rock Energy
Standard & Poor's said it affirmed its ratings, including the B- corporate credit rating, on Eagle Rock Energy Partners LP and placed them on CreditWatch with positive implications.
The CreditWatch placement reflects a strong likelihood for an upgrade at the close of its acquisition by B+ rated MLP Vanguard Natural Resources.
The agency expects to resolve the CreditWatch near the time of the acquisition's closing, which the companies expect to occur in the third quarter of 2015.
"We placed the ratings on Eagle Rock on CreditWatch with positive implications based on our view that an upgrade is likely following the close of its acquisition by Vanguard Natural Resources," S&P credit analyst Michael Tsai said in a news release.
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