Moody’s lifts Moss Creek Resources

Moody's Investors Service said it upgraded Moss Creek Resources Holdings, Inc.'s corporate family rating to B2 from B3, its probability of default rating to B2-PD from B3-PD and its senior unsecured notes rating to B3 from Caa1.

The outlook remains stable.

"Moss Creek's ratings upgrade reflects the company's improved credit profile, prospect of generating free cash flow while maintaining capital discipline and pursuing growth in size and scale,” Sreedhar Kona, Moody's senior analyst, said in a news release.

“Yet, the company is constrained by a high debt burden even considering the company's likely debt reduction through free cash flow.”

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