Continental Resources Announces Upgrade To Investment Grade Rating From Standard & Poor's
OKLAHOMA CITY, Aug. 30, 2013 /PRNewswire/ -- Continental Resources, Inc. (NYSE: CLR) ("Continental" or the "Company") announced today that Standard & Poor's Rating Services ("S&P") has upgraded the Company to investment grade. S&P increased Continental's long-term corporate credit rating and senior unsecured debt to BBB- from BB+.
Harold G. Hamm, Continental's Chairman and Chief Executive Officer, commented, "It is exciting to see Continental achieve one of our long-time corporate goals of reaching investment grade status. Our track record of exceptional oil growth with a disciplined financial approach has driven very strong earnings and cash flow. Our premier assets in the Bakken provide us with low-risk, high-return production growth for many years to come, which are now complemented by our development and production growth in our SCOOP discovery. Congratulations to our entire team."
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