E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 12/21/2020 in the Prospect News Bank Loan Daily and Prospect News High Yield Daily.

Fitch rates, pulls Antero note rating

Fitch Ratings said it assigned and then withdrew B-/RR5 ratings to Antero Resources Corp.’s planned senior unsecured 2026 bond, proceeds of which will be used to redeem Antero's remaining 2022 notes and to repay a portion of credit facility borrowings.

Fitch also affirmed and withdrew Antero’s B issuer rating, BB/RR1 senior secured revolver and B-/RR5 senior unsecured debt ratings.

The agency revised the outlook to positive from negative.

“Antero's ratings and positive outlook reflect the company's executed asset sales to date; progress on paying down its near-term maturity wall, including pro forma improvements associated with the notes issuance; ongoing efficiency gains, which should drive improvements in cash costs; the moderate recovery in NGLs pricing from the initial pandemic lows earlier this year; and AR's high-quality acreage position in the Marcellus/Utica,” Fitch said in a press release.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.