- Language: English
- Published: December 2012
- Region: Indonesia
Bill Barrett Corp.'s Proposed $300 Million Senior Unsecured Notes Rated 'BB-' (Recovery Rating: '3') Sep 11
- Published: September 2011
- Standard & Poors
NEW YORK (Standard & Poor's) Sept. 20, 2011--Standard & Poor's Ratings Services today assigned its 'BB-' issue-level rating (same as the corporate credit rating) to Bill Barrett Corp.'s proposed $300 million senior unsecured notes due 2019. The recovery rating on the notes is '3', indicating our expectation for meaningful recovery (50% to 70%) in the event of a payment default. Bill Barrett plans to use proceeds from the proposed notes offering to repay outstanding balances under its revolving credit facility and for general corporate purposes. As of Sept. 20, 2011, the company had $330 million drawn on its revolver. The 'BB-' corporate credit rating and stable outlook on Denver-based crude oil and natural gas exploration and production company Bill Barrett...
Companies mentioned in this report are: Bill Barrett Corp.
Action: New Rating
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Research type: News
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Bill Barrett Corp.