S&P: Mission Resources developing

Standard & Poor's noted that its B- corporate credit rating and CCC senior unsecured debt rating on Mission Resources Corp. would remain on CreditWatch with developing implications following the company's announcement that it has completed its evaluation of strategic alternatives.

S&P said Mission has outlined a strategy that includes a combination of expanding its exploration program, pursuing acquisitions of producing properties, selling non-core properties and expanding its credit facilities.

The CreditWatch listing will be resolved after S&P evaluates this strategy and its affect on Mission's business and financial profile, the agency said.

© 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.