Moody’s assigns EQM notes Ba3

Moody’s Investors Service said it assigned a Ba3 rating to EQM Midstream Partners, LP’s proposed senior unsecured notes due 2025 and senior unsecured notes due 2027.

The new notes are being offered to repay a portion of the outstanding balance under the revolving credit facility maturing in October 2023.

“Moody’s views this transaction as credit neutral as the overall debt burden of the company remains mostly unchanged,” the agency said in a press release.

All other EQM ratings, including its Ba3 corporate family rating, remain unchanged, Moody’s said.

The outlook remains negative.

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