Moody’s might lift Canbriam

Moody's Investors Service said it placed Canbriam Energy Inc.'s Ca corporate family rating, C-PD/LD probability of default rating and C senior unsecured notes ratings under review for upgrade.

The outlook was changed to ratings under review from negative.

“The ratings review follows the announcement that Canbriam has entered into definitive agreements, subject to regulatory approval, to be acquired by Pacific Oil and Gas Ltd. (PO&G, unrated) and intends to redeem its $350 million senior unsecured notes due November 2019 contingent on the completion of the transaction,” the agency said in a news release.

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