Moody's shifts Devon Energy view to stable

Moody's Investors Service said it changed the outlook for Devon Energy Corp. to stable from positive. Moody's also affirmed Devon's ratings, including its Ba1 corporate family rating, Ba1-PD probability of default rating and Ba1 senior unsecured debt rating. Devon's speculative grade liquidity rating remains SGL-1.

"The stable outlook reflects Devon's ability to withstand low oil & gas prices in the near-term due to its very good liquidity and sufficient commodity hedges," said Amol Joshi, a Moody's vice president and senior credit officer, in a press release. "However, an extended period of low commodity prices will still hurt the company's credit profile."

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