Moody’s eyes EnVen for upgrade

Moody’s Investors Service said it placed Energy Ventures GoM LLC’s ratings, including the Caa1 rating for its senior secured second-lien notes due 2026, on review for upgrade. Before the review, the outlook was stable.

The review follows Talos Energy Inc. reporting it agreed to acquire EnVen Energy Corp. for $1.1 billion.

"The proposed acquisition of EnVen by Talos is credit enhancing, given Talos' stronger credit profile," commented Jonathan Teitel, a Moody's analyst, in a press release. Talos’ CFR is B2 with a stable outlook.

The deal is expected to close around Dec. 31.

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