Fitch to rate EQT notes BBB-

Fitch Ratings said it expects to rate EQT Midstream Partners, LP's proposed senior unsecured notes BBB-.

Proceeds will be used to repay borrowings on the senior unsecured revolver and for general partnership purposes.

Fitch said the BBB- rating is supported by EQM's fixed fee long-term contracts with a 15-year weighted average contract life as of year-end 2013, low leverage, plans to operate with strong distribution coverage, and strategy to grow via dropdowns from its sponsor, EQT Corp. (BBB-/stable) and to capitalize on organic growth opportunities.

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