S&P gives B to WaterBridge loan

S&P said it assigned a B issuer credit rating to WaterBridge NDB Operating LLC.

S&P also assigned a B issue-level rating to a proposed term loan B based on a 3 recovery rating, indicating expectations of meaningful (50%-70%; rounded estimate: 60%) recovery in the event of a default.

The outlook is stable.

WaterBridge NDB is issuing a $575 million term loan B due 2029 to refinance existing debt under its credit facility, fund capital expenditures, and acquire additional surface rights and water assets in the Delaware basin.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.