Moody’s might lift Paramount

Moody's Investors Service said it placed Paramount Resources Ltd.'s Caa2 corporate family rating, Caa2-PD probability of default rating and Caa3 senior unsecured notes rating under review for possible upgrade following the announcement of an agreement to sell a portion of its Montney acreage to Seven Generations Energy Ltd. (7G, Ba3).

"The transaction will reduce Paramount's financial leverage and significantly improve its liquidity position," Moody's assistant vice president, analyst Paresh Chari said in a news release.

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