S&P rates Antero Midstream notes BB+

S&P said it assigned its BB+ issue-level rating and 3 recovery rating to the proposed $600 million senior unsecured notes due in 2028 issued by Antero Midstream Partners LP and Antero Midstream Finance Corp. The 3 recovery rating indicates an expectation for meaningful (50%-70%; rounded estimate: 55%) recovery in a payment default scenario.

The partnership intends to use the net proceeds from the notes to repay debt under its credit facility.

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