Moody's alters Ascent view to positive

Moody's Investors Service said it changed Ascent Resources Utica Holdings, LLC's outlook to positive from stable.

"Ascent's rating outlook change to positive reflects the company's progress on free cash flow generation, restrained capital spending and improved capital markets access," commented Sreedhar Kona, a Moody's senior analyst, in a press release.

"Improvement in the company's cash flow metrics through debt reduction and simplification of its capital structure could significantly improve the company's credit profile," Kona said.

Additionally, Moody's affirmed Ascent's B2 corporate family rating, B2-PD probability of default rating, B3 second-lien term loan rating and Caa1 senior unsecured notes rating.

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