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S&P might lift Newfield Exploration
S&P said it placed all of its ratings on Newfield Exploration Co., including the BB+ issuer credit rating, on CreditWatch with positive implications.
“The CreditWatch positive placement reflects that we will likely upgrade Newfield following the close of its acquisition by higher-rated Encana Corp. (BBB-/watch pos/--),” the agency said in a news release.
“The transaction remains subject to the approval of Newfield's and Encana's shareholders and other customary closing conditions. We do not anticipate any major issues arising during that process.”
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