Ithaca Energy PLC (GB:ITH) has released an update.
Ithaca Energy PLC, a prominent UK North Sea oil and gas operator, is under review for a credit rating upgrade by Moody’s and Fitch following its prospective asset combination with Eni S.P.A.’s UK upstream oil and gas. The upgrade consideration is influenced by Ithaca’s expected production and reserve growth, maintained financial strength, and a commitment to both conservative financial policies and ambitious shareholder returns. The successful merger, anticipated for Q3 2024, is set to further solidify Ithaca’s position as a key player in the UK energy sector.
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