Moody’s ups WPX Energy to stable

Moody's Investors Service said it changed WPX Energy, Inc.’s rating outlook to stable from negative.

The agency also affirmed WPX's B2 corporate family rating, B3 senior unsecured note rating and B2-PD probability of default rating, and raised the speculative grade liquidity rating to SGL-1 from SGL-2

"WPX has improved its liquidity and leverage through a series of actions, including $1.2 billion of assets sales in 2016 and a recent equity offering that will add almost $540 million to the company's cash balances," Moody's vice president and senior analyst James Wilkins said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.