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Fitch rates Antero Midstream notes BBB-
Fitch Ratings said it assigned Antero Midstream Partners, LP's proposed offering of senior notes due 2028 a senior unsecured rating of BBB-.
The notes are being co-issued by Antero Midstream Finance Corp.
Proceeds from the offering are expected to be used to repay borrowings under the company’s credit facility.
The outlook is stable.
“AM's ratings reflect its strong credit linkage with Antero Resources, Inc. (AR; BBB-/stable), AM's operating owner and primary counterpart,” the agency said in a news release.
“The ratings also reflect the low leverage and conservative financial profile of the partnership supported by fee-based and fixed-priced contracts that limit commodity price exposure and provide some volume protection in the form of minimum volume commitments.”
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