Fitch affirms Resolute Energy

Fitch Ratings said it affirmed Resolute Energy Corp.’s long-term issuer default rating at B-, senior secured credit facility at BB-/RR1 and senior unsecured notes at B+/RR2.

The outlook is stable.

Fitch said the affirmation reflects the quality of Resolute's small but expanding asset base in the Permian, improved corporate cost structure following the Aneth divestiture, favorable leverage metrics throughout the forecast, and the expectation of self-funding operations by 2020 at Fitch's base case price deck.

The agency added that it recognizes recent activist investor commentary could lead to corporate changes but believes most of the outcomes are unlikely to negatively affect the current ratings.

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