S&P cuts Epic Y Grade

S&P said it downgraded Epic Y Grade Services LP and its issue-level rating to CCC+ from B. The recovery rating is 4 indicating an expectation of average (30%-50%; rounded estimate: 35%) recovery in a payment default.

“Underpinning the rating action is the downward revision to our commodity price deck, which we expect will cause Epic's leverage metrics to be elevated over the next 24 months compared with our prior forecast,” said S&P in a press release.

The outlook is negative.

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