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Published on 1/15/2021 in the Prospect News Bank Loan Daily and Prospect News Investment Grade Daily.

Fitch upgrades Concho

Fitch Ratings said it upgraded Concho Resources, Inc.’s issuer default and senior unsecured ratings to A- from BBB.

The upgrade is to equalize its ratings with ConocoPhillips, Fitch said. ConocoPhillips completed its acquisition of Concho on Jan. 15.

The agency affirmed the IDRs for ConocoPhillips, ConocoPhillips Co. and Polar Tankers, Inc. at A. Also, Fitch affirmed Burlington Resources’ IDR at A.

The outlook is stable.


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