|
|
 |
|
Viewing report
|
|
|
|
Bulletin: W&T Offshore Inc. Ratings Not Immediately Affected By Land Acquisition
Standard & Poors, April 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
NEW YORK (Standard & Poor's) April 26, 2011--Standard & Poor's Ratings Services said today that its ratings on Houston -based W&T Offshore Inc. (B/Stable/--) are not immediately affected by W&T's plan to acquire approximately 27 million barrels oil equivalent (mmboe) of reserves in the West Texas Permian Basin for a purchase price of $366 million. The transaction will be financed with a combination of cash on hand and borrowings under the company's credit facility. The company currently has approximately $140 million of cash and $405.5 million of revolver availability. W&T's leverage metrics (excluding this acquisition) are strong for the rating, affording it some capacity for additional debt. Even if the company funded the acquisition primarily through its revolver, it would...
Companies mentioned in this report are: W&T Offshore Inc.
Action: Bulletin
|
|
|
|
