S&P shifts Stetsons view to positive

S&P said it revised the outlook for GIP III Stetson I LP and GIP III Stetson II LP, together Stetson, to positive from stable and affirmed its B issuer rating.

Stetson relies on EnLink Midstream LLC for its distributions to service its debt. On Sept. 1, the agency revised EnLink’s outlook to positive.

“We expect Stetson will receive $100 million in annual distributions from EnLink and repay $45 million in debt (including sweeps) in each of 2022 and 2023,” S&P said in a press release.

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