|Bid||7.00 x 3000|
|Ask||0.00 x 3200|
|Day's Range||7.11 - 7.47|
|52 Week Range||6.55 - 18.82|
|Beta (3Y Monthly)||1.24|
|PE Ratio (TTM)||18.33|
|Forward Dividend & Yield||1.23 (17.08%)|
|1y Target Est||N/A|
Natural gas producer Antero Resources and Antero Midstream are temporarily idling its pioneering wastewater treatment facility after less than two years of operation, a casualty of the steep drop in natural gas prices. The Antero Clearwater Treatment Facility in Pennsboro, West Virginia had been hailed as a major innovation in the industry when it opened in late 2017 and early 2018. It treated produced water from Antero (NYSE: AR) natural gas wells in the Marcellus and Utica shales.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Antero Midstream Partners LP and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
AM's other ratings and positive outlook were unchanged. Net proceeds will be used to reduce borrowings on AM's $2 billion committed revolving credit facility, which had $1.1 billion outstanding at March 31, 2019. "This is a leverage neutral and modestly liquidity enhancing transaction that does not have any meaningful impact on credit quality," commented Sajjad Alam, Moody's Vice President and Senior Analyst.
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