Moody's upgrades Hilcorp

Moody's Investors Service said it upgraded Hilcorp Energy I, LP's corporate family rating to Ba3 from B1 and its senior unsecured notes rating to B1 from B2.

Moody's revised the outlook to positive from stable.

"The ratings upgrade to Ba3 reflects the de-leveraging impact that the announced sale of joint venture company Hilcorp Resources, LLC will have on Hilcorp's overall financial profile," Andrew Brooks, Moody's vice president, said in a news release.

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