Fitch gives B- Summit Midstream notes B+

Fitch Ratings said it expects to assign a long-term issuer default rating of B- to Summit Midstream Partners, LP and Summit Midstream Holdings LLC. Fitch also expects to rate Summit Holdings' planned second-priority secured notes B+/RR2. The notes will be co-issued by Summit Midstream Finance Corp.

“The ratings assume a revised debt structure expected to be in place following the refinancing transaction,” Fitch said in a press release.

The proceeds are expected to be used for repayment of its 2022 notes and borrowings under the revolver.

The outlook is stable.

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