Moody’s raises EnLink, notes to Ba1

Moody's Investors Service said it upgraded EnLink Midstream Partners, LP's corporate family rating to Ba1 from Ba2, probability of default rating to Ba1-PD from Ba2-PD and senior unsecured notes to Ba1 from Ba2.

Concurrently, the agency affirmed the SGL-3 speculative grade liquidity rating.

The outlook is stable.

"EnLink LP's upgrade follows the upgrade of Devon Energy's ratings, the controlling owner of EnLink LP's general partner," Moody's vice president Amol Joshi said in a news release.

"While minimum volume commitments (MVCs) are protecting EnLink LP's margins amidst declining volumes in the Barnett Shale over the near-term, the company's growth in the STACK could largely offset margin decline after its Barnett MVCs expire at the end of 2018."

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