|
Tullow Oil PLC - London-based oil and gas exploration company - Wins an outlook upgrade from Moody's. Outlook rises to positive from stable. Moody's also affirms the company's B3 long-term corporate family rating, its B3-PD probability of default rating and the B2 rating of its $1.7 billion backed senior secured notes due 2026. Also affirms the Caa2 rating of the $800 million back senior unsecured notes due 2025.
Decision follows Tullow's proposed all-share merger with oil and gas exploration company Capricorn Energy PLC. Moody's expects the merger to enlarge Tullow's scale and add diversification to the company's business profile.
Current stock price: 55.61 pence
12-month change: down 5.0%
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
