S&P lowers Schahin Oil

Standard & Poor’s said it lowered its corporate credit rating on Schahin Oil & Gas Ltd. to B+ from BB+ and placed it on CreditWatch developing.

“The rating action reflects our view of Schahin O&G’s higher refinancing risk at the holding company level given the short tenor of the maturity profile that could pressure the company’s liquidity in the next 12 months,” S&P said in a news release.

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