Moody’s views Heritage Petroleum positively

Moody’s Investors Service said it changed the outlook for Heritage Petroleum Co. to positive from stable and affirmed its Ba3 corporate family and senior secured ratings.

The company is owned by Trinidad Petroleum Holdings Ltd., which in turn is wholly owned by the government of Trinidad & Tobago.

“The positive rating outlook on Heritage Ba3 ratings is primarily based on the positive outlook on the government of Trinidad & Tobago's Ba2 rating given the importance of the sovereign's credit strength to the company's ratings,” Moody’s said in a press release.

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