Moody's rates Kosmos Energy notes B3

Moody's Investors Service said it assigned a B3 rating to Kosmos Energy Ltd.'s planned $400 million of guaranteed senior unsecured notes due 2027. Kosmos' other ratings, including its B2 corporate family rating, and positive outlook are unchanged.

“The proposed guaranteed senior unsecured notes will rank pari passu with the company's existing 2026 and 2028 senior unsecured notes and hence were rated at the same B3 level. The notes will also rank equally with the unsecured corporate revolving credit facility (unrated) in right of payment to the notes,” the agency said in a press release.

The proceeds will be used the repay the bridge facility the company had previously used to close the acquisition of certain Ghana assets on Oct. 13.

© 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.