...WaterBridge NDB Operating LLC's (WB NDB; B+/Stable) ratings reflect its modest size in terms of EBITDA generation and volumetric risk with operations within the volatile water services midstream subsector. These factors are contrasted against the company's low EBITDA leverage, positioning the company comfortably in the 'B+' rating category. The Stable Outlook reflects Fitch Ratings' forecast for continued volume growth through 2025, particularly on WB NDB's Delaware acreage which is supported by Fitch's commodity price deck....