S&P lifts Enable view to positive

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

The agency also said it affirmed the B short-term rating on the partnership's debt. The recovery rating is 3, indicating 50% to 70% expected default recovery.

Recently announced projects in the Anadarko basin are expected to strengthen Enable Midstream Partners' footprint and competitive position and lead to volumetric growth, S&P said.

The positive outlook reflects an expectation that Enable will continue to improve its scale over the next 12 months while maintaining adequate liquidity and an adjusted debt-to-EBITDA ratio in the 4x to 4.25x range, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.