S&P upgrades Kosmos Energy

S&P said it raised its issue-level rating on Kosmos Energy Ltd.'s senior secured notes to B- from CCC+.

The corporate credit rating on Kosmos remains B. The outlook is stable.

The issue-level rating on the company's RBL facility remains B.

“Our rating outlook on Kosmos is stable, reflecting our assumption that production will increase in 2017 despite the shut downs due to remediation work at Jubilee, that the company will rein in exploration spending in the next two years and maintain debt to EBITDAX below 4x,” said S&P credit analyst Christine Besset in a news release.

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