S&P changes EnVen view to negative

S&P said it revised the outlook for EnVen Energy Corp. to negative from stable, citing weaker credit ratios.

“The outlook revision follows our assessment of the effect of lower commodity prices and missed production targets by EnVen, resulting in weaker-than-anticipated credit ratios and negative free cash flow generation. Under our new assumptions, we expect the company's funds from operations (FFO) to debt will average in the mid- to high-30% range and debt to EBITDA in the low-2x range over the next two years,” said S&P in a press release.

S&P also affirmed all its ratings for the company.

© 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.