Permian Resources Secures Investment Grade Rating from S&P

Edgen Stock·Mar 17 2026, 17:21

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Key Takeaways

Permian Resources has achieved a significant financial milestone by securing an investment-grade credit rating from S&P Global, following a similar move by Fitch. This upgrade to 'BBB-' is expected to lower borrowing costs, improve liquidity, and attract a wider pool of institutional investors.

S&P Upgrades Rating: On March 17, 2026, S&P Global upgraded Permian Resources' corporate credit rating to 'BBB-' from 'BB+' with a stable outlook.
Dual Agency Approval: This action follows a previous upgrade from Fitch Ratings to 'BBB-' in July 2025, cementing the company's investment-grade status across two major agencies.
Financial Benefits: The new rating is anticipated to reduce interest expenses, enhance access to capital markets, and broaden the company's investor base to institutions required to hold investment-grade debt.

S&P Upgrades Permian Resources to 'BBB-' on March 17

Permian Resources Corporation (NYSE: PR) secured a full investment-grade credit profile after S&P Global Ratings upgraded its corporate and issuer ratings to 'BBB-' from 'BB+' on March 17, 2026. The agency assigned a stable outlook, signaling confidence in the company's financial standing. This move follows a prior upgrade by Fitch Ratings, which initiated its coverage with a 'BBB-' rating in July 2025. Achieving investment-grade status from both major rating agencies marks a pivotal moment for the energy producer, validating its balance sheet strength and operational scale.

Upgrade Unlocks Lower Costs and Broader Investor Access

The improved credit rating is set to directly reduce borrowing costs and improve liquidity for Permian Resources, the second-largest pure-play E&P in the Permian Basin. This financial flexibility enhances the company's ability to generate free cash flow and deliver shareholder returns through commodity cycles. The upgrade also widens the company's appeal to a larger class of institutional investors who are often mandated to hold only investment-grade securities. Co-CEO James Walter noted the company has operated with this goal in mind for years.

Over the past ten years, we have run our business with an investment grade mindset, pairing high-quality assets with a fortress balance sheet to create outsized shareholder value through commodity cycles.

— James Walter, Co-CEO of Permian Resources.