Fitch revises MEG Energy view to stable

Fitch Ratings said it affirmed MEG Energy Corp.’s long-term issuer default rating at B and revised the outlook to stable from positive. Also, Fitch affirmed the rating on MEG’s second-lien notes at BB/RR1 and the rating on its senior unsecured notes at B+/RR3.

The revision mirrors the concern of challenging capital market access and the uncertainty of the length and the depth of commodity price downturns. MEG’s financial policy has been relatively conservative, which provides it the ability to withstand significantly lower commodity prices. Nevertheless, if prices remain lower for a prolonged period, MEG’s liquidity could be reduced.

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