Moody's turns Teine outlook to positive

Moody's Investors Service said it revised the outlook for Teine Energy Ltd. to positive from stable and affirmed its B2 corporate family, its B2-PD probability of default rating and the B3 senior unsecured ratings on its notes due 2029.

"The positive outlook reflects our expectation that Teine will maintain low leverage while bolstering liquidity in 2023 as it allocates positive free cash flow toward revolver repayment following the Chauvin acquisition," said Whitney Leavens, aMoody's analyst, in press release.

"Teine's credit metrics will remain strong as it continues to build on a track record of operating efficiency," she added.

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