...August 20, 2020 - In S&P Global Ratings' view, a restricted group reserve-based lending facility affirmed at $1.7 billion, receipt of contingent seller financing, and improved expected credit ratios alleviate liquidity pressure on U.S.-based oil and gas exploration and production company Hilcorp Energy I L.P. - As a result, we are affirming our '##-' issuer credit rating on the company and removing it from CreditWatch, where we placed it with negative implications on August 29, 2019. - At the same time, we are affirming our '##-' issue-level rating on the company's senior unsecured notes. The '3' recovery rating is unchanged and indicates our expectation for meaningful (50%-70%; rounded estimate: 65%) recovery of principal in the event of a default. - The stable outlook reflects our view that financial metrics are in line with our two-year expectations for the rating. While we anticipate Hilcorp will modestly deleverage as oil prices recover under our price deck assumptions, we expect debt...
