S&P gives Kosmos notes B+

S&P said it gave B+ and 2 recovery ratings to Kosmos Energy Ltd.’s planned $400 million in unsecured notes due 2028.

S&P also affirmed its B issuer credit rating on Kosmos and B+ issue-level ratings.

Kosmos will use $200 million of proceeds to pay down its outstanding reserve-based lending facility balance to $1 billion along with outstanding borrowings on its unsecured corporate facility.

The outlook is negative.

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