Moody’s rates Kosmos notes Caa1

Moody’s Investors Service said it gave Kosmos Energy Ltd.’s planned senior notes due 2028 a Caa1 rating.

The agency also changed the company’s outlook to stable from negative and affirmed its B2 corporate family rating, B2-PD probability of default rating and Caa1 rating on the senior unsecured notes.

“The stable outlook reflects higher oil price expectations for 2021 and Kosmos Energy’s improved liquidity and funding position that should allow it to sufficiently cover its significant capital expenditures in 2021,” said Sajjad Alam, Moody’s senior analyst, in a press release.

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