| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers M > Headlines for Murphy Oil Corp. > News item |
Moody's upgrades Murphy Oil
Moody's Investors Service said it upgraded Murphy Oil Corp.’s corporate family rating to Ba2 from Ba3, probability of default rating to Ba2-PD from Ba3-PD and senior unsecured notes rating to Ba2 from Ba3. The speculative grade liquidity rating was changed to SGL-1 from SGL-2.
"The upgrade of Murphy's CFR to Ba2 reflects the improvement in credit metrics and Moody's expectation that production and free cash flow will improve further in 2022 as new projects in the U.S. Gulf of Mexico come online," stated James Wilkins, a Moody's vice president, in a press release.
"We expect the company to continue to repay debt in 2022-2023, improving leverage metrics further, before significantly increasing shareholder remuneration," Wilkins said.
The outlook is stable.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.