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S&P raises Hilcorp Energy
Standard & Poor's said it raised the corporate credit rating on Hilcorp Energy I LP to BB- from B+.
The outlook is stable.
"The rating action is a result of Hilcorp's satisfactory operating performance while maintaining acceptable financial measures," S&P analyst Amy Eddy said in a statement.
For the remainder of 2009 and 2010, Hilcorp's adjusted debt-to-EBITDAX ratio is expected to be in about mid-2x, the agency said.
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