Archrock Announces Credit Rating Upgrade from S&P Global Ratings
AROCArchrock(AROC) Newsfilter·2024-03-04 19:03

HOUSTON, March 04, 2024 (GLOBE NEWSWIRE) -- Archrock, Inc. (NYSE:AROC) ("Archrock") announced that S&P Global Ratings ("S&P") has upgraded Archrock's issuer credit rating to ‘BB-' from ‘B+' with a stable outlook. S&P also raised the issue-level rating on Archrock's senior unsecured debt to ‘BB-' from ‘B+'. S&P pointed to high equipment utilization, increasing earnings and declining leverage through the forecast period. S&P highlighted in their report, "Archrock has significantly increased EBITDA since 2022 ...