Fitch rates Strathcona loan BB+

Fitch Ratings said it rated Strathcona Resources Ltd.’s planned C$700 million term loan BB+/RR1 and trimmed its senior unsecured notes B/RR5 from B+/RR4.

The agency also affirmed Strathcona’s B+ issuer rating and the BB+/RR1 ratings on its revolver.

“The senior unsecured notes have been downgraded due to the amount of higher priority debt Strathcona is adding to its capital structure to fund the acquisition of Serafina Energy Ltd.,” Fitch said in a press release.

The outlook is stable.

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