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Moody's rates Hiland notes Ba3
Moody's Investors Service said it assigned a B1 corporate family rating to Hiland Partners, LP and assigned a B3 rating to the partnership's proposed $350 million senior unsecured notes due 2020.
Moody's also assigned a B1 probability of default rating and a SGL-3 speculative grade liquidity rating.
The outlook is stable.
"We view Hiland as an emerging and evolving midstream energy limited partnership," Moody's vice president and senior credit officer Stuart Miller said in a news release.
"Hiland's small scale and exposure to commodity prices are balanced by the benefits of being owned by Harold Hamm and its business relationship with Continental Resources - one of the leading independent energy companies in the U.S.," Miller added in the release.
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