Moody’s: Devon Energy to stable

Moody's Investors Service said it affirmed Devon Energy Corp.’s Ba2 corporate family rating, Ba2-PD probability of default rating and Ba2 senior unsecured note ratings.

The speculative grade liquidity rating was upgraded to SGL-1 from SGL-2.

The outlook was changed to stable from negative.

"The stabilization of Devon's rating outlook reflects the company's material progress on its asset divestiture program to date, and assumes that Devon will announce the sale of its stake in the Access Pipeline in 2016, which will strengthen the company's balance sheet and result in improving financial leverage metrics," Moody's vice president Gretchen French said in a news release.

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