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S&P puts WPX on positive watch
S&P said it placed all its WPX Energy Inc. ratings on CreditWatch with positive implications.
The placement follows the announcement Devon Energy Corp. and WPX will merge in an all-stock transaction, S&P said.
“We are placing all our ratings on WPX Energy, including our BB- issuer credit and BB- issue-level ratings, on CreditWatch with positive implications, reflecting the likelihood of an upgrade following the close of the merger, which we expect to take place in the first quarter of 2021,” S&P said in a press release.
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