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S&P affirms EOG on acquisition
S&P said it affirmed all ratings, including the BBB+ long-term and A-2 short-term corporate credit rating, on EOG Resources Inc.
The outlook is stable.
The affirmation follows EOG Resources' announcement that it agreed to acquire privately held Yates Petroleum Corp. for $2.45 billion, including the assumption of $114 million of net debt.
EOG will fund the purchase with $2.3 billion of equity and $151 million of cash and repayment of net debt.
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