March 08, 2012 at 10:06 AM EST
TEXT-Fitch rates Pioneer Natural Resources 'BB+'
March 8 - Fitch Ratings has assigned an initial 'BB+' Issuer Default Rating (IDR) to Pioneer Natural Resources Co. (PXD) and has also assigned 'BB+' ratings to the company's publicly issued senior unsecured notes and its $1.25 billion senior unsecured revolving credit facility. The Rating Outlook is Positive. Pioneer's ratings are supported by the company's long-lived onshore reserve base, strong recent operating performance, and expiration of volumetric production payments (VPPs). Concerns i
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