Moody’s gives Baa2 to Coterra notes

Moody’s Investors Service said it assigned a Baa2 rating to Coterra Energy Inc.'s planned offering of senior unsecured notes.

Coterra's Baa2 senior unsecured notes rating is unchanged, the agency said.

The company intends to use the proceeds, together with cash on hand, to fund the repayment at or before maturity of its notes due in September.

"The proposed notes issuance should opportunistically refinance existing debt while extending maturities and improving financial flexibility," said Amol Joshi, a Moody's vice president and senior credit officer, in a press release.

The outlook is stable.

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