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Fitch Keeps Ithaca Energy's Rating on Low Leverage, Conservative Financial Policy

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Fitch maintained the BB- long-term issuer default rating of Ithaca Energy (ITH.L), with a stable outlook, citing the company's operational diversification, low leverage, and conservative financial policy.

The rating agency highlighted the oil and gas company's acquisition-driven growth strategy, disciplined capital allocation, and steady production performance, according to a Tuesday release.

Fitch said these strengths are offset by Ithaca's short proved reserve life and the high and evolving UK oil and gas tax regime.

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