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Moody’s changes Osum view
Moody’s Investors Service said it changed Osum Production Corp.'s outlook to negative from stable.
At the same time, Moody's affirmed Osum's B3 corporate family rating, B3-PD probability of default rating, Ba3 senior secured priority revolving credit facility rating, and B3 senior secured first-lien term loan rating.
“The negative outlook reflects our expectation that Osum will generate lower cash flow in 2020 as a result of the sharp decline in oil prices, and cash flow could remain depressed into 2021,” Jonathan Reid, Moody's analyst, said in a news release.
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