Fitch Places Ithaca Energy on Rating Watch Positive Over Purchase of Canadian Assets

04:30 AM EDT, 10/08/2026 (MT Newswires) -- Fitch Ratings placed Ithaca Energy's (ITH.L) BB- long-term issuer default rating on Rating Watch Positive following the oil and gas company's acquisition of interests in several offshore fields in Canada, according to a Wednesday release. The rating agency expects the purchase to boost cash flows and production volumes and improve geographic diversification, as well as stable jurisdiction. It expects Ithaca's financial leverage to increase somewhat, while remaining strong, and proved reserve life to stay low. Fitch will resolve the rating watch once the deal closes, which could take more than six months and is likely to result in a positive outlook.