S&P puts Double Eagle III positive watch

S&P said it placed all of its ratings on Double Eagle III Midco 1 LLC, including the B- issuer credit rating and B issue-level rating, on CreditWatch with positive implications, reflecting the likelihood of an upgrade following the close of the acquisition of the company by Pioneer Natural Resources Co.

S&P expect the acquisition to take place in the second quarter of 2021.

“The CreditWatch positive placement reflects the likelihood that we will raise our ratings on Double Eagle when the deal closes, assuming the transaction is completed as proposed and there are no material changes to our current operating assumptions,” S&P said in a news release.

© 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.