Fitch revises Energean view to positive

Fitch Ratings said it revised the outlook on Energean plc's to positive from stable and affirmed its B+ ratings on the company and its senior secured notes. The recovery rating is RR4.

“The revision of the outlook reflects Energean's faster-than-expected improvement in financial performance over 2021-2023, due to a stronger price environment and timely delivery of expansion projects. It also reflects our expectation that funds from operations (FFO) net leverage should remain well below our positive rating sensitivity of 2.5x from 2023,” the agency said in a press release.

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