Moody's upgrades Access Midstream

Moody's Investors Service said it upgraded Access Midstream Partners, LP's (ACMP) corporate family rating to Ba1 from Ba2.

The agency also upgraded the company's existing senior unsecured notes ratings to Ba2 from Ba3.

The speculative grade liquidity is unchanged at SGL-2 and the outlook remains positive.

"ACMP's upgrade to Ba1 reflects the company's strong execution on its growth capital spending, rising cash flows, and declining financial leverage," Moody's vice president Pete Speer said in a news release. "The partnership is also working to diversify its customer base and reduce its customer concentration with Chesapeake Energy."

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