Fitch raises Ascent notes to B+

Fitch Ratings said it raised Ascent Resources Utica Holdings LLC's senior unsecured debt to B+/RR3 from B/RR4 based on improved recovery prospects due to the repayment of the $550 million second-lien term loan that would have been due in 2025.

“The upgrade resolves the rating watch positive placed on those issue ratings on April 28,” Fitch said in a press release.

Concurrently, the agency affirmed Ascent’s B issuer default rating and BB/RR1 ratings on its first-lien credit facility.

The outlook remains positive.

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