Moody's ups Atlas Pipeline

Moody's Investors Service said it upgraded Atlas Pipeline Partners, LP's corporate family rating and probability of default rating to B1 from B2.

The outlook was revised to stable from positive.

The company's B3 senior unsecured notes rating was affirmed and its SGL-3 speculative-grade liquidity rating remains unchanged.

The upgrade reflects an improved balance sheet, reduced business risks and a fiscally manageable growth profile following the sale of two assets, Moody's said, and the subsequent debt reduction and solid operational performance.

Its credit profile now is better positioned to accommodate growth and withstand volatility in commodity prices, the agency said.

© 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.