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Prospect News home > News index > List of issuers G > Headlines for GIP III Stetson I, LP > News item
Published on 3/10/2020 in the Prospect News Bank Loan Daily and Prospect News High Yield Daily.

Fitch trims GIP III Stetson

Fitch Ratings said it downgraded GIP III Stetson I, LP's and GIP III Stetson II, LP's issuer default rating to B+ from BB- and senior secured rating to B-/RR6 from BB-/RR3.

The outlook remains negative.

“The downgrade reflects GIP Stetson's elevated leverage following ENLC's approximately 35% distribution cut, a move that improves FCF at ENLC but weakens GIP Stetson's credit profile,” the agency said in a news release.


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