Moody’s raises Hilcorp, notes

Moody's Investors Service said it upgraded Hilcorp Energy I, LP's corporate family rating to Ba1 from Ba2 and Hilcorp's and co-issuer Hilcorp Finance Co.’s senior unsecured notes rating to Ba2 from Ba3.

The outlook is stable.

"Notwithstanding the environment of weak oil and natural gas prices, Hilcorp has consistently and profitably executed on its growth strategy while maintaining one of the strongest balance sheets among its high-yield E&P peers," Moody's vice president Andrew Brooks said in a news release.

"The company's recent acquisition of Alaskan North Slope assets proved once again to validate its strategy of value creation through the acquisition and exploitation of mature, legacy operating properties."

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