S&P assigns BB+ to Enable Midstream notes

S&P said it assigned its BB+ issue-level rating and 3 recovery rating to Enable Midstream Partners LP's proposed senior unsecured notes due in 2027.

The partnership intends to use the net proceeds of the offering for general partnership purposes, including to repay borrowings outstanding under the revolving credit agreement.

The 3 recovery rating on the unsecured notes reflects an expectation of meaningful (50%-70%; rounded estimate: 65%) recovery in the event of a payment default, S&P said.

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