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S&P puts Oasis Midstream on positive watch
S&P said it placed all its Oasis Midstream Partners LP ratings, including the B issue-level rating, on CreditWatch with positive implications.
The CreditWatch placement follows Oasis reporting it agreed to be acquired by Crestwood Equity Partners LP in an equity and cash transaction valued at $1.8 billion, including the assumption of debt.
“The CreditWatch with positive implications reflects the likelihood that we will raise our ratings on OMP and its debt upon the close of the acquisition,” S&P said in a press release.
The agency said it aims to resolve the CreditWatch at or near the close of the deal, expected to occur in the first quarter of 2022.
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