...May 31, 2022 NEW YORK (S&P Global Ratings) May 31, 2022--S&P Global Ratings today assigned its '##-' issue-level rating and '3' recovery rating to EQM Midstream Partners L.P.'s (EQM) proposed $800 million senior notes due 2027 and 2030. The '3' recovery rating indicates our expectation for meaningful (50%-70%; rounded estimate: 55%) recovery in the event of a default. The partnership intends to use the net proceeds from these offerings to repay its outstanding notes due 2023, 2024, and 2025. EQM operates in the Marcellus and Utica Shale regions and is wholly owned by Equitrans Midstream (ETRN). The partnership provides midstream services to producers, utilities, and other customers through its natural gas transmission, storage, and gathering systems and water services business. EQM owns 950 miles of U.S. Federal Energy Regulatory Commission (FERC)-regulated interstate pipelines and approximately 1,170 miles of high-pressure gathering lines....
