S&P assigns Hess Midstream BB+

S&P said it assigned a BB+ rating to Hess Midstream Partners LP and its senior unsecured debt and a BBB- issue-level rating to the senior secured debt.

Hess Midstream will simplify its structure and acquire all of Hess Corp.’s and Global Infrastructure Partners’ ownership interests in Hess Infrastructure Partners LP, said S&P.

The company will assume about $800 million of Hess Infrastructure notes in a par-for-par exchange.

The outlook is stable.

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