Moody's alters Traverse Midstream view to stable

Moody's Investors Service said it changed Traverse Midstream Partners LLC's outlook to stable. Concurrently, Moody's affirmed Traverse Midstream's B3 corporate family rating, its B3-PD probability of default rating and its B3 senior secured term loan rating.

The stable outlook reflects the fundamental improvement in the credit strength of the joint venture Rover pipeline considering improved natural gas fundamentals and counterparty credit strength, the agency said.

“Additionally, with the capital spending largely completed, Traverse Midstream's focus on debt reduction through excess cash flow sweeps will gradually improve the company's debt leverage,” Moody’s said in a press release.

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