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Prospect News home > News index > List of issuers M > Headlines for Moss Creek Resources Holdings, Inc. > News item |
S&P gives Moss Creek B, notes B+
S&P said it assigned a B corporate credit rating to Moss Creek Resources Holdings Inc.
The outlook is stable.
At the same time, the agency assigned a B+ issue-level rating to the company's proposed $650 million senior unsecured notes. The 2 recovery rating indicates an expectation of substantial (70% to 90%; rounded estimate: 85%) recovery of principal in the event of default.
Proceeds are expected to be used to pay down borrowings under its credit facility, repay an existing term loan and for general corporate purposes.
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