Moody's may lift Complete

Moody's Investors Service said it placed the ratings of Complete Production Services, Inc. on review for possible upgrade.

The ratings under review are Complete's B1 corporate family rating and probability of default rating and the B2 (LGD 4, 67%) rating on the company's $650 million senior unsecured notes due 2016, the agency said.

According to the agency, this rating action is prompted by sustained improvements in Complete's credit metrics and the slower pace of acquisition activity exhibited over the last two years.

Moody's said it anticipates this review will be completed before year-end and could result in a one-notch upgrade.

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