Moody’s downgrades WaterBridge

Moody’s Investors Service said it downgraded WaterBridge Midstream Operating LLC corporate family rating to B3 from B1, probability of default rating to B3-PD from B1-PD and the senior secured term loan rating to B3 from B1.

“The downgrade of WaterBridge’s ratings reflects our expectation of decreased water transportation and handling volumes resulting from a high level of upstream producer shut-ins in the Delaware Basin,” said Arvinder Saluja, a Moody’s vice president, in a press release.

The outlook remains stable.

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