Moody's rates Oryx loans Ba3, Ba1

Moody's Investors Service said it assigned a Ba3 rating to Oryx Midstream Services Permian Basin LLC's planned $1.85 billion senior secured term loan due in 2028 and a Ba1 rating to its proposed $50 million senior secured super-priority revolving credit facility due in 2026.

The company's Ba3 corporate family rating and stable outlook are unchanged, Moody’s said.

The new loans will result in “modestly lower interest costs,” the agency said.

Oryx will use the loans to refinance outstanding loans.

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