Oklahoma-based crude pipeline Glass Mountain Pipeline LLC's affiliate Glass Mountain Pipeline Holdings LLC is issuing a $300 million term loan B due 2024. Proceeds will be used to partially fund BlackRock's acquisition from SemGroup and NGL. We are assigning our 'B' long-term corporate credit rating to Glass Mountain Pipeline. The outlook is stable. We are also assigning our 'B' issue-level rating and '3' recovery rating to Glass Mountain Pipeline Holdings LLC's $300 million secured first-lien term loan due 2024. The stable outlook reflects our view that throughput volumes will increase primarily due to the STACK expansion project backed by a long-term acreage dedication with Devon Energy Corp. (BBB/Stable). We expect debt to EBITDA to be 6.5x in 2018, stepping down
