S&P shifts Concho Resources view to positive

S&P said it revised the rating outlook on Concho Resources, Inc. to positive from stable.

“The positive outlook reflects our view that the company's financial measures will continue to improve through 2019 and into 2020, resulting in funds from operations (FFO) to debt averaging above 60% at our current oil and natural gas price deck assumptions,” said S&P in a press release.

The agency affirmed BBB- rating for Concho and its senior unsecured debt.

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