Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for EnQuest plc > News item |
Moody's gives EnQuest notes B3
Moody's Investors Service said it assigned a corporate family rating of B1 and a probability of default rating of B1-PD to EnQuest plc.
Concurrently, the agency assigned a provisional B3 rating with a loss given default assessment of LGD5 (82%) to the senior notes maturing in 2022 to be issued by the company and guaranteed on a senior subordinated basis by certain of its subsidiaries.
The outlook is stable.
Moody's said it expects EnQuest to continue to grow its reserve base in the coming years, as production ramps up. In this regard, the group's current low leverage and good availability of liquidity provide the necessary headroom for future acquisitions to be accommodated within its conservative financial policies.
© 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.