S&P: Enable Midstream view to stable

S&P said it affirmed its BB+ corporate credit and issue-level ratings on Enable Midstream Partners LP and revised the outlook to stable from negative.

At the same time, the agency affirmed the B short-term rating and 3 recovery rating on the partnership's issue-level debt. The 3 recovery rating indicates an expectation for meaningful (50% to 70%, in the upper half of the range) recovery in the event of a payment default.

"The stable rating outlook reflects our expectation that Enable will maintain adequate liquidity and adjusted debt to EBITDA in the 4x to 4.25x range for the remainder of 2016 and below 4x in 2017," S&P credit analyst Mike Llanos said in a news release.

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