- Fitch placed Crescent's 'BB-' IDRs on Rating Watch Positive.
- Fitch assigned 'BB+'/'RR1' to proposed first-lien secured term loan B.
- Crescent agreed to acquire Eagle Ford assets from Devon for $3.85B cash.
- Funding: ~$1.15B equity + cash on hand + ~$2.6B new debt.
- Proforma production ~400 kboe/d, midcycle EBITDA ~$2.7B.
- Fitch expects leverage of 1.8x in 2027, 1.9x in 2028, 1.7x at midcycle.
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