Fitch rates, pulls Antero note rating

Fitch Ratings said it assigned and then withdrew B-/RR5 ratings to Antero Resources Corp.’s planned senior unsecured 2026 bond, proceeds of which will be used to redeem Antero's remaining 2022 notes and to repay a portion of credit facility borrowings.

Fitch also affirmed and withdrew Antero’s B issuer rating, BB/RR1 senior secured revolver and B-/RR5 senior unsecured debt ratings.

The agency revised the outlook to positive from negative.

“Antero's ratings and positive outlook reflect the company's executed asset sales to date; progress on paying down its near-term maturity wall, including pro forma improvements associated with the notes issuance; ongoing efficiency gains, which should drive improvements in cash costs; the moderate recovery in NGLs pricing from the initial pandemic lows earlier this year; and AR's high-quality acreage position in the Marcellus/Utica,” Fitch said in a press release.

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