Moody’s rates EnLink notes Ba2

Moody's Investors Service said it assigned a Ba2 rating to EnLink Midstream Partners, LP's proposed $400 million senior unsecured notes.

Proceeds will be used to reduce drawings outstanding on the company's revolving credit facility.

EnLink’s Ba2 corporate family rating, Ba2-PD probability of default rating, existing Ba2 senior unsecured note ratings and SGL-3 speculative grade liquidity rating are unaffected.

The outlook is stable.

"EnLink LP's proposed bond issuance will help to support its liquidity profile in a debt neutral transaction through the reduction of outstanding borrowings under its revolving credit facility," Moody's vice president Gretchen French said in a news release.

"Our underlying views on EnLink LP reflected in our July 8, 2016 rating action remain unchanged."

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