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Antero Resources Finance Corp.'s New $300 Million Notes Are Rated 'B' Jul 11
Standard & Poors, July 2011
Abstract
NEW YORK (Standard & Poor's) July 27, 2011--Standard & Poor's Ratings Services today said it assigned issue-level and recovery ratings to Antero Resources Finance Corp.'s $300 million senior unsecured notes due in 2019. We base the issue-level and recovery rating on the rating of exploration and production (E&P) company Antero Resources LLC (B+/Stable/--), which guarantees the proposed notes on a senior unsecured basis. The assigned issue rating on the notes is 'B' (one notch below the corporate credit rating). The recovery rating on this debt is '5', indicating our expectation of a modest (10% to 30%) recovery in the event of default. The company will use the proceeds from the notes to repay indebtedness under its revolving credit facility and...
Companies mentioned in this report are: Antero Resources Finance Corporation,Antero Resources LLC
Action: New Rating
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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