Moody’s raises WildHorse to B2

Moody's Investors Service said it upgraded WildHorse Resource Development Corp.’s corporate family rating to B2 from B3 and probability of default rating to B2-PD from B3-PD.

The Caa1 senior unsecured notes rating and speculative grade liquidity ratings were affirmed at SGL-3.

The outlook was changed to positive from stable.

"Through several sizable acreage acquisitions and organic growth driven by enhanced drilling and completion techniques, WildHorse has achieved a significant increase in the scale of its operations in the Eagle Ford Shale," Moody's vice president Andrew Brooks said in a news release.

"Moderating its use of debt financing to further this growth could lead to additional ratings upside."

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