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Energy Transfer Operating, L.P. -- Moody's rates BCP Renaissance Parent Term Loan B1

Moody's Investors Service ("Moody's") assigned a B1 rating to BCP Renaissance Parent L.L.C.'s (BCP Renaissance) proposed $65 million senior secured Term Loan B due November 2024. BCP Renaissance's existing ratings including its B1 Corporate Family Rating (CFR), the B1 rating on its existing Term Loan B and its B1-PD Probability of Default Rating (PDR) are not affected by this rating assignment. The proposed $65 million Term Loan B is rated B1, equivalent to the B1 Corporate Family Rating (CFR), as the Term Loan B is the only debt in BCP Renaissance's capital structure.