Fitch upgrades Kosmos Energy

Fitch Ratings said it upgraded Kosmos Energy Ltd.'s issuer default rating to B+ from B.

The outlook is stable.

The company's senior secured notes were upgraded to B+ from B with a recovery rating of RR4.

The agency said the upgrade reflects the company's stronger operational profile following its asset acquisition in Equatorial Guinea in late 2017 and the strong performance of these assets in the year to date.

It also factors in the positive outlook for Kosmos's core assets in Ghana (B/stable), and more clarity regarding the potential final investment decision on the Tortue gas project operated by BP plc (A/stable), Fitch added.

The rating also takes into account Kosmos's conservative borrowing, liquidity and hedging policies, the agency said.

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