Fitch rates Medallion Midland loan BB-

Fitch Ratings said it assigned BB-/RR3 ratings to Medallion Midland Acquisition, LLC's senior secured term loan due 2028. The loan is guaranteed by its operating subsidiary, Medallion Gathering & Processing, Inc.

“The rating reflects Medallion's limited size and scale, its position as a gathering and transportation service provider located in a single basin, counterparty and volumetric risk. Liquidity is adequate and near-term capital spending will be funded with excess cash flow,” Fitch said in a press release.

Loan proceeds will be used to refinance the term loan B loan due 2024.

The outlook is stable.

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