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Fitch puts Prairie ECI on negative watch
Fitch Ratings said it placed Prairie ECI Acquiror LP issuer default and senior secured term loan ratings of BB- on ratings watch negative.
Prairie is a special purpose vehicle owned by Blackstone Infrastructure Partners, its partners and affiliates to hold a 44% stake in Tallgrass Energy LP, which owns Tallgrass Energy Partners LP.
The ratings watches on Prairie and Tallgrass Energy Partners follows a non-binding letter from Blackstone to acquire all of Tallgrass Energy LP not already owned by the sponsors, Fitch said.
The negative watch reflects the potential for increased leverage at Prairie, Tallgrass Energy or at Tallgrass Energy Partners.
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