Fitch rates QEP Resources BBB

Fitch Ratings said it assigned QEP Resources, Inc. and its senior unsecured debt BBB ratings to equalize them with Diamondback Energy Inc.’s BBB rating. Diamondback completed its acquisition of QEP on March 17.

The agency also affirmed the BBB ratings of Diamondback, Diamondback O&G LLC and Energen Corp.

“The affirmation of the ratings and stable outlook reflects the clearer operational and more de-risked capital allocation plan, in conjunction with a more supportive pricing environment, since the transaction announcement which should materially improve the near-term FCF profile and reduces overall execution risk for management's debt repayment plan,” Fitch said in a press release.

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