Moody's raises Antero Midstream

Moody's Investors Service said it upgraded Antero Midstream Partners LP's corporate family rating to Ba3 from B1, probability of default rating to Ba3-PD from B1-PD and senior unsecured notes to B1 from B2. The speculative grade liquidity rating was unchanged at SGL-3.

"The upgrade reflects AM's recent decision to cut shareholder distributions and reduce debt, as well as the significant improvements in the credit profile of AM's principal customer Antero Resources Corporation, which improves visibility around AM's future throughput volumes and cash flow," said Sajjad Alam, a Moody's senior analyst, in a press release.

The outlook remains stable.

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