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Moody's views Northern Oil positively
Moody's Ratings said it changed Northern Oil and Gas, Inc.'s outlook to positive from stable.
"Northern Oil & Gas' positive rating outlook reflects its improving credit metrics and increased scale and diversification through recent acquisitions," said Amol Joshi, a Moody's vice president and senior credit officer, in a press release.
"While the company is highly acquisitive, the company should maintain good liquidity and solid leverage metrics that could support a higher rating, " Joshi added.
Concurrently, the agency affirmed NOG's ratings, including its B1 corporate family rating, B1-PD probability of default rating and B2 senior unsecured notes rating. NOG's SGL-2 speculative grade liquidity rating remains unchanged.
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