Moody’s lowers Resolute Energy

Moody’s Investors Service said it downgraded Resolute Energy Corp.’s corporate family rating to B3 from B2 and the rating on its unsecured notes to Caa1 from B3.

Moody’s also said it changed the company’s speculative grade liquidity rating to SGL-4 from SGL-2.

The outlook also was revised to negative from stable.

While the stable, long-lived production from Resolute Energy’s Aneth Field facilitates its ability to align its spending to reduced levels of operating cash flow, the company’s inability to complete a partial monetization of this asset sets back its effort to enhance liquidity and reduce debt leverage, Moody’s said.

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