On November 18, 2020, Moody's Investors Service downgraded its probability of default rating on Summit Midstream Partners, LLC to D-PD from Ca-PD and affirmed its corporate family rating at Ca and its senior secured term loan rating also at Ca. These actions follow the closing of the Company’s term loan restructuring on November 17, 2020. Under the restructuring agreement, the term loan was fully discharged in exchange for a certain cash payment and approximately 2.3 million Summit Midstream Partners, LP common units held by the Company and pledged as collateral under the term loan.

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