Fitch revises FR BR view to negative

Fitch Ratings said it revised the outlook for FR BR Holdings to negative from stable.

“The outlook revision reflects FR BR's high leverage following Blue Racer Midstream LLC's (BB-/negative) lower-than-forecast EBITDA in 2019. Actual distributions to FR BR were also less than expected,” Fitch said in a press release.

Fitch also affirmed the company’s B- rating and the B-/RR4 rating on the $515 million senior secured term loan.

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