Significant cash flow generation enabled privately held U.S.-based exploration and production company, Moss Creek Resources Holdings Inc. to reduce its debt in 2022, improving its underlying leverage metrics. Therefore, we raised our issuer credit rating on Moss Creek to 'B' from 'B-'. At the same time, we raised our issue-level ratings on the company's unsecured notes to 'B+' from 'B'; our '2' recovery rating is unchanged. The stable outlook reflects our expectation that Moss Creek will generate free cash flow while maintaining funds from operations (FFO) to debt of around 60% over the next two years. The stable outlook reflects our expectations that Moss Creek will generate free cash flow while maintaining FFO to debt of around 60% over the
