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Prospect News home > News index > List of issuers N > Headlines for Nostrum Oil & Gas Finance BV > News item
Published on 4/3/2020 in the Prospect News Distressed Debt Daily and Prospect News Emerging Markets Daily.

S&P trims Nostrum Oil & Gas

S&P said it downgraded Nostrum Oil & Gas plc and its senior secured notes sold by Nostrum Oil & Gas Finance BV to CCC- from CCC.

“We believe a distressed exchange at Nostrum Oil and Gas PLC (Nostrum) is inevitable. As announced on March 31, 2020, Nostrum intends to begin a conversation with bondholders regarding debt restructuring in the coming months,” said S&P in a press release.

Nostrum considered selling all or a part of the company, but didn’t receive any bids, S&P said.

The outlook is negative.


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