11:52 AM EDT, 07/10/2024 (MT Newswires) -- S&P Global Ratings on Tuesday upgraded its issuer credit rating on Obsidian Energy ( OBE ) to "B" from "B-"

The rating agency also raised its issue-level rating on the company's senior unsecured notes to "B+" from "B." The recovery rating remains "2."

The stable outlook reflects the view that the company will generate strong cash flow and leverage metrics, with average two-year funds from operations-to-debt projected above 100% and debt-to-EBITDA of below 1x.

Price: 10.20, Change: +0.16, Percent Change: +1.59