S&P ups, pulls Parsley ratings

S&P said it upgraded its ratings for Parsley Energy LLC and its senior unsecured notes to BBB from BB and removed them from CreditWatch with positive implications. The agency subsequently withdrew the ratings following Pioneer Natural Resources Co.’s acquisition of Parsley.

“The rating actions follow the closing of Pioneer’s acquisition of Parsley. We raised our issuer credit rating on Parsley to BBB with a stable outlook to equalize it with that of Pioneer because we now consider Parsley to be a core entity of the company.

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