Fitch revises Oryx view to positive

Fitch Ratings said it changed the outlook to positive from negative and affirmed the long-term issuer default rating of Oryx Midstream Holdings LLC at B and its senior secured term loan at B+/RR3.

“The revised outlook for Oryx reflects the improving leverage profile and resiliency demonstrated by the business despite industry headwinds in 2020. The company in 2H20 witnessed a swift recovery of volumes with relatively lower (compared with the Permian basin as a whole) producer-led volume curtailment disruption at the height of the pandemic,” Fitch said in a press release.

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