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Prospect News home > News index > List of issuers E > Headlines for Encino Acquisition Partners Holdings LLC > News item |
Fitch rates Encino Acquisition loan BB-
Fitch Ratings said it assigned a long-term issuer default rating of B+ to Encino Acquisition Partners Holdings, LLC and Encino Acquisition Partners, LLC.
The outlook is stable.
The agency also assigned a BB-/RR3 rating to the company's senior secured second-lien term loan.
“Encino's IDR reflects the company's sizable Utica position that will allow for years of development, competitive unit economics, the ability to cost effectively transport gas out of basin to advantaged price points, expected leverage of below 2.0x and neutral to positive cash flow profile,” Fitch said in a news release.
“These considerations are offset by the company's lack of historical operations of the Utica position and heightened potential for margin compression given its exposure to natural gas supply-demand fundamentals.”
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