Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Memorial Production Partners LP > News item |
S&P cuts Memorial Production Partners
Standard & Poor’s said it lowered its corporate credit rating on Memorial Production Partners LP to B from B+.
At the same time, S&P lowered the issue-level rating on the partnership’s senior unsecured debt to CCC+ from B-. The recovery rating on this debt remains 6, reflecting an expectation of negligible (0% to 10%) recovery in the event of payment default.
“The rating action reflects our expectation of weaker credit measures than previously anticipated due primarily to a higher outlook for operating costs,” S&P said in a news release.
© 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.