Moody's ups EOG to stable

Moody's Investors Service said it affirmed EOG Resources, Inc.'s A3 long-term debt and prime-2 commercial paper ratings and changed the outlook to stable from negative.

"The ratings affirmation and stable outlook reflect EOG's considerable progress in transforming into a company with a more balanced profile between natural gas and liquids production, which has resulted in stronger cash margins and improved cash flow coverage of debt," said Gretchen French, Moody's vice president - senior analyst, in a news release.

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