Continental Resources, Inc. announced that Moody's Investor Services (Moody's) has upgraded the Company to investment grade. Moody's increased Continental's senior unsecured rating to Baa3 from Ba2.
John D. Hart, Continental's Chief Financial Officer, commented, "We are pleased to have Moody's recognize Continental as an investment grade credit. The Company has experienced significant growth with our success in the development of the Bakken and most recently the SCOOP play. The asset base has delivered and continues to provide exceptional returns and cash margins, which enable us to execute our growth plans. Our growth has been matched with a disciplined capital sourcing approach enabling a strong credit profile. This upgrade to investment grade is yet another step forward in delivering a strong and flexible balance sheet as part of our 5 year plan. Congratulations to our entire team."