Fitch: Western Gas notes BBB-

Fitch Ratings said it expects to assign a BBB- rating to Western Gas Partners, LP’s senior unsecured notes due 2026.

The proceeds will be used to repay a portion of amounts currently outstanding under the revolving credit facility, Fitch said.

The ratings reflect the relative credit strength at sponsor Anadarko Petroleum Corp., the agency said, as well as good visibility on throughput volumes and associated cash flows related to key Western Gas gathering systems.

Downside risks for Western Gas are related to changes to upstream budgets and subsequent production volumes in the company’s areas of operation rather than from commodity price fluctuations, Fitch said.

But sustained lower commodity prices are likely to have an impact on upstream producer’s drilling activity levels, 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.