S&P raises Hess

Standard & Poor's said it raised the corporate credit and senior unsecured debt ratings on Hess Corp. to BBB from BBB-.

The outlook is stable.

The upgrade is based on the company's continued healthy operating performance, good track record of reserve replacement and maintenance of a relatively conservative balance sheet and financial policy, S&P said.

The agency said it believes the company will continue to manage its operating and financial profile consistent with the revised ratings.

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