Fitch Upgrades Enerflex's IDR to 'BB' and Senior Secured Notes to 'BB+'/'RR2'; Outlook Stable

Fitch Ratings has upgraded Enerflex Ltd.'s Long-Term Issuer Default Rating (IDR) to 'BB' from 'BB-' and senior secured notes to 'BB+' with a Recovery Rating of 'RR2'. The upgrade reflects Enerflex's deleveraging, improved liquidity, and stable revenue from its energy infrastructure and aftermarket services. The Stable Outlook assumes continued conservative financial policy and strong utilization rates. Key drivers include predictable cash flow, conservative financial policy, increased growth investment, strong backlog, and geographic diversification. Enerflex's ratings position it favorably among peers in the oilfield services industry.