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S&P puts Parsley on positive watch
S&P said it placed all its ratings on Parsley Energy LLC and its debt on CreditWatch with positive implications.
Pioneer Natural Resources Co., which S&P rates BBB, said it plans to acquire Parsley for about $7.6 billion in stock and the assumption of $3.1 billion in debt.
The placement reflects the likelihood S&P will raise its rating on Parsley to match Pioneer's rating following the acquisition, the agency said. S&P rates Parsley and its debt at BB.
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