Moody’s ups Holly Energy

Moody’s Investors Service said it upgraded Holly Energy Partners, LP’s corporate family rating to Ba2 from Ba3, probability of default rating to Ba2 from Ba3 and senior unsecured notes rating to B1 from B2.

“The upgrade recognizes HEP’s growth and the company's continued strategic importance to HollyFrontier Corporation (HFC, Baa3 stable), which owns its general partner interest and is its refining parent. HEP provides critical midstream logistics to HFC’s operations and also plays an important role as a growth and financing vehicle for its midstream operations,” Moody’s said in a press release.

The outlook is stable.

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