S&P lifts Hunt Oil to stable

S&P said it is revising the financial forecasts on Hunt Oil Co. to reflect updated production assumptions, the ongoing suspension of shipments from Yemen LNG and recent asset sales.

Despite an expectation that Hunt will not receive distributions from Yemen in the next two- to three-years, the agency said it forecasts credit measures to strengthen in 2018 and 2019 as ongoing development of the company's U.S. onshore assets lifts production and cash flows.

S&P said it affirmed the BB- issuer credit rating on Hunt, but revised the outlook to stable from negative.

This reflect an expectation that credit measures will be adequate for the rating over the next two years with a debt-to-EBITDAX ratio of about 3x, the agency said.

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