Moody’s ups Antero Resources

Moody’s Investors Service said it upgraded Antero Resources Corp.’s corporate family rating to B2 from B3, probability of default rating to B2-PD from B3-PD and senior unsecured notes to B3 from Caa1. The speculative grade liquidity rating remains unchanged at SGL-3.

Moody’s also changed the outlook to stable from negative.

“The upgrade reflects Antero’s reduced refinancing risk, modest debt reduction and improved cost structure,” said Sajjad Alam, a Moody’s senior analyst, in a press release.

Antero’s outlook reflects Moody’s forecast of significant free cash flow generation and further debt reduction through 2021, the agency said.

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