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Bill Barrett Corp. Oct 11
Standard & Poors, Oct 2011
Abstract
Strong reserves and production growth; A high proportion of liquids in its natural gas production stream, which improves price realizations; and Adequate liquidity and moderate debt levels for the rating. High leverage to natural gas prices; Limited scale and concentration in the Rocky Mountain region; and Likely to outspend operating cash flows in 2011 and 2012. The ratings on Bill Barrett Corp. (BBG) reflect the company's track record of delivering strong reserves and production growth, the high proportion of natural gas liquids (NGLs) in its production stream--which boosts price realizations, adequate liquidity, and moderate debt levels. Our ratings also reflect our view that natural gas prices will remain weak in the near term; the company's limited scale with significant concentration...
Companies mentioned in this report are: Bill Barrett Corp.
Action: Review
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: Full Analysis
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