Moody’s revises Neptune Energy view to stable

Moody’s Investors Service said it revised the outlook for Neptune Energy Group Midco Ltd. to stable from under review and confirmed the Ba3 corporate family rating and Ba3-PD probability of default rating as well as the B1 rating assigned to Neptune Energy Bondco plc’s guaranteed senior unsecured notes due 2025.

“The stable outlook reflects Moody’s expectation that cash conserving measures and the protection afforded by commodity hedges to operating profitability will enable Neptune to keep leverage metrics in line with the guidance for the Ba3 CFR and maintain a healthy liquidity position,” the agency said in a press release.

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