Baytex Energy Corp T.BTE

Moody's upgrade

[Drifter133]

Baytex Energy Corp. (BTEGF) News Release

05/30/2022 10:51 AM EDT

Moody's Upgrades Baytex Energy; Revises Outlook to Positive

05/30/2022 10:49 AM EDT

10:49 AM EDT, 05/30/2022 (MT Newswires) -- Moody's on Friday upgraded Baytex Energy Corp.'s (BTE.TO) corporate family rating to B1 from B2, probability of default rating to B1-PD from B2-PD, and affirmed the B3 senior unsecured ratings.

The rating outlook was changed to positive from stable. The speculative grade liquidity rating upgraded to SGL-1 from SGL-2.

"The upgrade reflects our expectation for Baytex's credit metrics to remain strong while it continues to deleverage via strong free cash flow generation," Moody's analyst Paresh Chari said in a statement. "The upgrade also reflects the company's strong commitment to reducing debt, and its very good liquidity."

The company's shares rose 2.8% on last look on Monday.

Price: 7.07, Change: +0.19, Percent Change: +2.76

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[red2000]

Good info Drifter !!! My understanding is this may help to be on radar screen of institutional and major fund !!! 

[Drifter133]

Yes Red, the good news just keeps coming for Baytex!! On the Brian Ector interview. I love that he didn't pander to Eric and Josh especially! Didn't just tell them what they wanted to hear but instead stuck with managements/board's plan! Times have changed drasticially to the good for Baytex and the current management team plus oil pricing is the main reasons so I say let these people