Bulletin: Granite Acquisition Inc. Ratings Remain Unchanged On Acquisition By Macquarie Infrastructure Partners IV

NEW YORK (S&P Global Ratings) Dec. 20, 2018--S&P Global Ratings today said that its ratings on Granite Acquisition Inc. (B+/Stable/--) remain unchanged following the company's sale announcement and the subsequent expected change of control. On Oct. 2, 2018, MIP IV, an infrastructure fund managed by the Macquarie Infrastructure and Real Assets division of the Macquarie Group, announced that its subsidiary, Fawkes Holding LLC (Fawkes) would acquire 100% of the equity ownership of Granite from funds managed by Energy Capital Partners. MIP IV meets the definition of a new sponsor as specified in the credit agreement and we expect that the proposed change of control will not--in and of itself--cause us to lower, withdraw, or qualify our outstanding ratings on Granite.

...NEW YORK (S&P Global Ratings) Dec. 20, 2018--S&P Global Ratings today said that its ratings on Granite Acquisition Inc. (B+/Stable/--) remain unchanged following the company's sale announcement and the subsequent expected change of control. On Oct. 2, 2018, MIP IV, an infrastructure fund managed by the Macquarie Infrastructure and Real Assets division of the Macquarie Group, announced that its subsidiary, Fawkes Holding LLC (Fawkes) would acquire 100% of the equity ownership of Granite from funds managed by Energy Capital Partners. MIP IV meets the definition of a new sponsor as specified in the credit agreement and we expect that the proposed change of control will not--in and of itself--cause us to lower, withdraw, or qualify our outstanding ratings on Granite. This report does not constitute a rating action....

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