The rating change comes after Aris Water Solutions, currently valued at $1.18 billion in market capitalization, and Western Midstream (NYSE: WES ) entered into a definitive merger agreement valued at approximately $1.5 billion, according to Stifel analyst Selman Akyol. According to InvestingPro, ARIS maintains strong fundamentals with a current ratio of 1.87 and has been profitable over the last twelve months.