We believe U.S. oil and gas exploration and production partnership Hilcorp Energy I L.P. is likely to meaningfully increase its asset and production base in the next 12 months. We are revising the outlook to positive from stable and affirming the 'BB' corporate credit rating and senior unsecured debt rating on the partnership. The positive outlook reflects the potential for a positive rating action over the next 12 months if the partnership increases proved developed reserves to a level closer to its 'BB+' rated peers while maintaining leverage below 2x on a sustained basis. DALLAS (Standard&Poor's) May 14, 2014--Standard&Poor's Ratings Services said today it revised its rating outlook to positive from stable on Houston-based Hilcorp Energy
