Moody’s: Matador unaffected by add-on notes

Moody's Investors Service said that Matador Resources Co.’s proposed $150 million of additional 6 7/8% senior notes due 2023 offering will not impact the company's credit ratings or stable outlook.

The notes are being offered as an addition to Matador's existing $400 million 6 7/8% senior notes due 2023 that Matador issued in April 2015.

The additional notes and existing notes will be treated as a single class of debt securities and will have identical terms, other than the issue date.

The B3 rating, one notch below the B2 corporate family rating, reflects the notes’ effective subordination to the company's $400 million senior secured revolving credit facility.

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