S&P ups Antero Midstream, debt

S&P said it raised its corporate credit rating on Antero Midstream Partners LP and its issue-level rating on its unsecured debt to BB+ from BB.

The recovery rating on the debt remains 3, indicating an expectation that lenders will receive meaningful (50%-70%; rounded estimate: 65%) recovery in the event of a payment default.

The outlook remains stable.

The agency said the corporate credit rating reflects a fair assessment of the partnership's business risk profile and an intermediate assessment of its financial risk profile.

The stable outlook reflects an expectation that the partnership will continue to increase its volumes as Antero Resources Corp.’s production grows.

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