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BULLETIN:Forest Oil Corp.'s Larger Share Repurchase Program Will Not Affect Ratings or Outlook Aug 01
Standard & Poors, Aug 2001
Abstract
NEW YORK (Standard & Poor's) Aug. 17, 2001--Standard & Poor's said today that Forest Oil Corp.'s (BB/Positive/--) announcement that it has increased its share repurchase program to $65 million will not affect the ratings or outlook on the company. The program remains discretionary and is expected to be largely funded from excess cash flow. Additional sizeable increases in the program or significant debt funding of share repurchases could cause Standard & Poor's to revise either its ratings or outlook on Forest downward....
Companies mentioned in this report are: Forest Oil Corp.
Action: S&P Event
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.
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