Fitch gives Seven Energy notes B-

Fitch Ratings said it has assigned Seven Energy International Ltd. an expected long-term issuer default rating of B-(exp) with a stable outlook.

The expected issuer default rating takes into account a $255 million equity placement and assumes a successful issue of dollar-denominated notes and repayment of certain existing debt.

Fitch said it has simultaneously assigned Seven Energy Finance Ltd.'s proposed secured notes an expected senior secured rating of B-(exp) and a RR4 Recovery rating.

The company plans to use proceeds from the notes to refinance some of its existing indebtedness and to improve its capital structure and liquidity.

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