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S&P Global Ratings publishes an annual scorecard that lines up every midstream energy company it rates in the Americas from strongest to weakest. The latest edition, dated Feb. 10, 2026, covers 102 companies. Eighteen of them own pipelines, gathering systems, processing plants, or equity stakes in the Marcellus/Utica. We pulled out the M-U names — and found something in the fine print that ought to irritate every Appalachian operator.
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