Moody’s rates Traverse Midstream, loan

Moody's Investors Service said it assigned ratings to Traverse Midstream Partners LLC, including a B1 corporate family rating, a B1-PD probability of default rating and a B1 rating to its proposed $1.14 billion secured term loan B due 2024.

The outlook is stable.

“Traverse Midstream's B1 corporate family rating reflects its non-operated ownership position in the Rover pipeline, a strategic link which will provide Marcellus and Utica basin natural gas producers with much needed expanded geographic access beyond constrained local markets, enhancing producer net-backs,” Andrew Brooks, Moody's vice president, said in a news release.

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