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S&P cuts Antero, changes view to negative
S&P said it downgraded the rating for Antero Midstream Partners LP to BB from BB+.
The agency cut the rating on the company’s former parent Antero Resources Corp. to BB from BB+.
Also lowered were issue ratings to BB from BB+. The 3 recovery rating was left unchanged and indicates S&P’s expectation for a meaningful (50%-70%; rounded estimate: 50%) recovery in a payment default scenario.
The bb+ stand-alone credit profile for Antero Midstream is unchanged.
S&P revised its outlook for Antero Midstream to negative from stable.
“The negative outlook on Antero Midstream Partners LP reflects the negative outlook at Antero Resources Corp., from which Antero Midstream Partners LP derives nearly 100% of its revenues,” S&P said in a news release.
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