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Published on 7/21/2004 in the Prospect News Bank Loan Daily, Prospect News Distressed Debt Daily and Prospect News High Yield Daily.

S&P: Mission Resources developing

Standard & Poor's said it placed its B- corporate credit rating and CCC senior unsecured debt rating on Mission Resources Corp. on CreditWatch with developing implications.

The CreditWatch listings follow Mission's announcement that it has retained Petrie Parker & Co. to assist the company in evaluating strategic alternatives designed to enhance shareholder value.

The CreditWatch listings will be resolved when Mission announces the results of its strategic review, the agency said.


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