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Prospect News home > News index > List of issuers E > Headlines for EP Energy > News item |
Fitch rates EP Energy BB+, notes BBB-
Fitch Ratings said it assigned EP Energy, as a long-term foreign currency issuer default rating of BB+ with a stable outlook.
The agency said it also assigned the company's proposed €500 million senior secured notes issue due 2019 an expected rating of BBB-.
Fitch said the issuer default rating reflects EP Energy's contracted lignite mining and low cost heat sales through regional regulated distribution monopolies. These two core segments represent over 80% of the company's EBITDA, making its earnings and cash flows relatively stable and predictable.
The company also benefits from geographical diversification and a limited exposure to adverse regulation.
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