Moody's ups Antero Resources

Moody's Investors Service said it upgraded Antero Resources LLC's corporate family rating to B1 from B2.

The rating on the existing $925 million senior unsecured notes was also upgraded to B2.

In addition, Moody's affirmed the SGL-3 speculative grade liquidity rating.

The outlook is positive.

"The upgrade and positive rating outlook reflects Antero's existing reserve base, the apparent available liquidity deriving from that asset base and significant hedged positions in its gas production. This should permit a transition to significantly higher NGL production from its ample low risk, low-cost drilling prospects inventory in liquids rich areas," Moody's vice president Harry Schroeder said in a news release.

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