S&P turns Marathon, MPLX view to stable

S&P said it revised the outlook for Marathon Petroleum Corp. and its subsidiary MPLX LP’s outlook to stable from negative and affirmed the BBB ratings on the companies and their debt.

“We expect Marathon Petroleum Corp.'s consolidated credit ratios to continue improve through 2022, driven by improvement in the company's refining business and the stability of cash flows from its midstream assets at MPLX LP As a result, we forecast adjusted net debt to EBITDA of about 3x through 2022 while the company continues to execute on its equity and unit buyback program,” S&P said in a press release.

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