Moody's turns Exterran view to positive

Moody's Investors Service said it changed the outlook to positive from stable and affirmed Exterran Energy Solutions, LP's B1 corporate family rating, B1-PD probability of default rating and B3 senior unsecured notes rating. The SGL-3 speculative grade liquidity rating remains unchanged.

This rating action follows Exterran's announcement it agreed to be acquired by Enerflex Ltd. in a stock-for-stock deal, Moody’s said. The transaction, which is expected to close in the second or third quarter 2022, is subject to shareholder approvals, regulatory approvals and other customary closing conditions.

"Enerflex's announced acquisition of Exterran is credit positive and should benefit Exterran's credit metrics, supported by increased size and scale of the combined company," commented Amol Joshi, a Moody's vice president and senior credit officer, in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.