Fitch ups MEG Energy notes, outlook to positive

Fitch Ratings said it upgraded the rating on MEG Energy Corp.’s senior unsecured notes to B+ from B.

The agency also revised its outlook for MEG to positive from stable.

“The positive outlook reflects Fitch's view that future free cash flow will be used primarily to reduce debt and lead to credit metrics more in line with a high single-B rating,” said Fitch in a press release.

Fitch affirmed MEG’s B rating and affirmed the BB rating on the senior secured second-lien notes.

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