Form 8-K EnLink Midstream, LLC For: Dec 06

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S&P Lowers Outlook on Devon Energy (DVN) to Negative; Ratings Affirmed

December 7, 2015 2:35 PM EST

Standard & Poor's Ratings Services said it revised its outlook on Devon Energy (NYSE: DVN) to negative from stable and affirmed all of its ratings on the company, including the 'BBB+' corporate credit rating.

The outlook revision reflects expected deterioration in Devon's credit-protection measures in 2016 due to low oil and gas prices, rolling off of the company's hedges, and use of debt and hybrid securities to fund a portion of the $3.45 billion acquisitions. Devon announced plans to acquire privately held Felix, which holds oil-rich properties in the "STACK" play in Oklahoma, for... More