Moody’s changes MEG Energy view

Moody’s Investors Service said it changed MEG Energy Corp.'s outlook to negative from stable.

Moody's also affirmed MEG's B2 corporate family rating, B2-PD probability of default rating, Ba3 second-lien notes rating, and B3 senior unsecured notes rating.

The speculative grade liquidity score was lowered to SGL-2 from SGL-1.

“The negative outlook reflects lower cash flow generation and weaker credit metrics that could persist through 2021,” Paresh Chari, Moody's analyst, said in a news release.

“MEG has hedges in place for 2020 and good liquidity to weather this period of low prices.”

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