Bulletin: GIP II Blue Holding L.P. Ratings Unchanged On Announced $100 Million Term Loan Add-On - S&P Global Ratings’ Credit Research

Bulletin: GIP II Blue Holding L.P. Ratings Unchanged On Announced $100 Million Term Loan Add-On

Bulletin: GIP II Blue Holding L.P. Ratings Unchanged On Announced $100 Million Term Loan Add-On - S&P Global Ratings’ Credit Research
Bulletin: GIP II Blue Holding L.P. Ratings Unchanged On Announced $100 Million Term Loan Add-On
Published Jul 19, 2023
2 pages (1079 words) — Published Jul 19, 2023
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Abstract:

NEW YORK (S&P Global Ratings) July 19, 2023--S&P Global Ratings today said that GIP II Blue Holding L.P.'s (BB-/Stable/--) announced $100 million add-on to its term loan due 2028 does not affect the company's credit quality. GIP II Blue Holding intends to use the net proceeds from the add-on to pay a dividend to Global Infrastructure Partners (GIP) and for general corporate purposes. We expect the company's S&P Global Ratings-adjusted debt to EBITDA to be between 2.5x and 3.0x and interest coverage above 3x through 2024. GIP II Blue Holding L.P. is a subsidiary of GIP. GIP and Hess Corporation (HES) each own a 50% interest in Hess Midstream L.P.'s (HESM) general partner, Hess Infrastructure Partners GP LLC (HIP). This

  
Brief Excerpt:

STANDARD & POOR'S, S&P and RATINGSDIRECT are registered trademarks of Standard & Poor's Financial Services LLC. S&P may receive compensation for its ratings and certain analyses, normally from issuers or underwriters of securities or...

  
Report Type:

Bulletin

Issuer
GIP II Blue Holding L.P.
Sector
Global Issuers
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Bulletin: GIP II Blue Holding L.P. Ratings Unchanged On Announced $100 Million Term Loan Add-On" Jul 19, 2023. Alacra Store. May 07, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-GIP-II-Blue-Holding-L-P-Ratings-Unchanged-On-Announced-100-Million-Term-Loan-Add-On-3021965>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: GIP II Blue Holding L.P. Ratings Unchanged On Announced $100 Million Term Loan Add-On Jul 19, 2023. New York, NY: Alacra Store. Retrieved May 07, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-GIP-II-Blue-Holding-L-P-Ratings-Unchanged-On-Announced-100-Million-Term-Loan-Add-On-3021965>
  
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