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S&P eyes Hess Midstream for upgrade
S&P said it placed its BB+ ratings for Hess Midstream Operations LP and its senior unsecured debt as well as its BBB- rating on the company’s senior secured debt on CreditWatch with positive implications.
The positive watch follows a similar action on the company’s parent Hess Corp. after Chevron agreed to buy the company.
“The CreditWatch placement reflects our expectation that we will raise our ratings on HESM following the close of the acquisition. We expect to resolve the CreditWatch placement after the proposed transaction closes, which we anticipate will occur in the first half of 2024,” S&P said in a press release.
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