RE:Thanks, Naamkat (IV post) Fitch on VET
Sorry, no link, from brokerage account news feed.
While I consider this upgrade a day late and a dollar short, what is most significant is a listing of factors sympathetic to VET that shows how "smart" money screens E&Ps.
Regards,
Naamkat
| Fitch Revises Vermilion's Outlook to Stable |
| 12:44 PM EDT, 03/14/2022 (MT Newswires) -- Fitch Ratings said Monday that it has affirmed the long-term issuer default rating of Vermilion Energy Inc. (VET.TO) at BB- and the company's senior unsecured rating at BB-/RR4. The rating outlook has been revised to stable from negative. The stable outlook reflects the company's application of free cash flow to lower debt and its increased covenant headroom. The rating reflects the diversification of Vermilion's asset base, its exposure to higher-priced European oil and gas indices as compared to North American peers, related free-cash-flow forecast, and a track record of defending its credit profile, the rating agency said. The company's stock fell 8.3% on last look on Monday. Price: 26.15, Change: -2.46, Percent Change: -8.60 |