S&P keeps Chesapeake Energy on positive watch

Standard & Poor's said that its ratings, including its BB corporate credit rating, on Chesapeake Energy Corp. remain on Creditwatch with positive implications, where they were placed on July 9.

Despite the recent negative market sentiment, the agency said it still expects the company to maintain sufficient liquidity.

Proceeds from expected near-term asset monetizations and operating cash flow should exceed cash outflows, allowing the company to increase its cash balance in the fourth quarter, the agency added.

S&P said that it could raise ratings if the company executes its planned asset monetizations and expands its cash balance in the fourth quarter.

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