Moody’s assigns Osum loans B3, Ba3

Moody's Investors Service said it assigned a B3 rating to Osum Production Corp.'s proposed $210 million senior secured term loan and a Ba3 rating to the super-priority $15 million senior secured revolver.

The agency also assigned Osum a B3 corporate family rating, a B3-PD probability of default rating and a SGL-2 speculative grade liquidity rating.

The outlook is stable.

Proceeds will be used to finance the acquisition of the Orion steam-assisted gravity drainage bitumen asset from Shell Canada.

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