Milestone: M3 Midstream projects gets credit upgrade by Moody’s

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[Context: Stonewall Gas Gathering, LLC is owned by M3 Midstream, a portco of Yorktown Partners and Ridgemont Equity Partners. Stonewall is a $420m gas pipeline project in the Marcellus play in West Virginia, which supports Antero Resources (NYSE: AR). Antero is itself majority owned by Yorktown.] 

Moody’s upgrades Stonewall to B2; outlook positive-Approximately $260 million of rated debt affected

New York, July 11, 2016 — Moody’s Investors Service, (“Moody’s”) upgraded Stonewall Gas Gathering LLC’s (Stonewall) Corporate Family Rating (CFR) to B2 from B3, Probability of Default Rating (PDR) to B2-PD from B3-PD and the senior secured term loan rating to B2 from B3. The Speculative Grade Liquidity (SGL) rating was withdrawn. The outlook was changed to positive from stable.

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