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Moody's rates Access Midstream notes Ba3
Moody's Investors Service said it assigned a Ba3 rating to Access Midstream Partners, LP's proposed offering of $400 million senior notes due 2021.
Moody's also upgraded the speculative-grade liquidity rating to SGL-2 from SGL-3.
The proceeds from the notes offering will be used to repay revolver borrowings and fund planned growth capital expenditures.
The outlook is positive.
"This senior notes offering bolsters Access Midstream's liquidity, providing the partnership with full availability on its revolving credit facility to fund its large growth capital expenditures," Moody's vice president Pete Speer said in a news release.
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