Moody’s rates Stonepeak Lonestar loan B1

Moody’s Investors Service said it assigned a B1 rating to Stonepeak Lonestar Holdings LLC’s proposed $800 million senior secured term loan B due 2026, and a Ba1 rating to the senior secured revolving facility.

The proceeds will primarily be used to recapitalize Lonestar, which holds equity interests in development joint ventures with affiliates of Targa Resources Corp., the agency said.

Moody’s also assigned a B1 corporate family rating and B1-PD probability of default rating.

The rating outlook is stable.

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