Fitch gives EnLink Midstream notes BB+

Fitch Ratings said it assigned BB+/RR4 ratings to EnLink Midstream, LLC's planned offering of senior unsecured notes.

“ENLC raised EBITDA guidance on the 2Q22 call, and leverage is falling faster than Fitch expected at its March 2022 affirmation. Sustained leverage below the positive sensitivity threshold over a couple of quarters would be the main trigger for an upgrade,” the agency noted in a press release.

The proceeds will be used to tender for outstanding senior unsecured debt due over the next few years.

The outlook is positive.

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