...October 25, 2023 NEW YORK (S&P Global Ratings) Oct. 25, 2023--S&P Global Ratings today said that the announced acquisition of Hess Corp. (HES) by Chevron Corp. does not affect GIP II Blue Holding L.P.'s (Holding) credit quality. GIP II Blue Holding is a subsidiary of Global Infrastructure Partners (GIP). GIP and HES each own a 50% interest in Hess Midstream L.P.'s (HESM) general partner, Hess Infrastructure Partners GP LLC. This allows them to share control of HESM and its subsidiaries, including Hess Midstream Operations L.P. We do not expect changes to HESM's financial policy at this time. GIP II Blue Holding is a holding company with no tangible assets other than its over 30% interest in HESM. On their own, GIP and Hess do not control HESM or its subsidiaries. Holding's credit quality is driven by our stand-alone view of HESM, which is unchanged following the announcement. For more information on the transaction, see our research update on Hess Midstream Operations L.P., published Oct....
