Crescent Energy (CRGY) announced that S&P Global Ratings and Fitch Ratings, Inc. have taken positive ratings actions on Crescent, pending the closing of the previously announced acquisition of SilverBow Resources (SBOW) on May 16, 2024. In addition, Moody’s Ratings reaffirmed its stable outlook. In their releases, the agencies recognized the transaction’s compelling strategic and financial rationale, citing potential for improved scale with complementary Eagle Ford assets, stable free cash flow generation and balance sheet strength, Crescent said.
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Read More on CRGY:
- Crescent Energy to Acquire SilverBow Resources, Enhancing Market Presence
- Crescent Energy’s Strategic Merger with SilverBow Resources
- Crescent Energy to acquireSilverBow Resources for $2.1B
- Crescent Energy price target raised to $14 from $13 at Mizuho
- Crescent Energy reports Q1 adjusted EBITDA $313.3M vs. $232.0M last year