Moody's lifts Hilcorp

Moody's Investors Service said it upgraded Hilcorp Energy I, LP's corporate family rating to Ba2 from Ba3 and upgraded its senior unsecured notes rating to Ba3 from B1. The outlook is stable.

"The upgrade reflects Hilcorp's continuing growth in reserves and production," said Andrew Brooks, a Moody's vice president, in a news release.

"Deploying asset sale proceeds to repay debt and fund its growth has enabled Hilcorp to continue its strategy of acquiring low-risk exploitation projects without re-levering its balance sheet," Brooks said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.