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Recovery Report: Samson Resources Corp.'s Recovery Rating Profile Feb 12 Product Image

Recovery Report: Samson Resources Corp.'s Recovery Rating Profile Feb 12

  • Published: February 2012
  • Standard & Poors

FEATURED COMPANIES

Abstract
We are assigning a 'B' issue-level rating, one notch below the corporate credit rating, and a recovery rating of '5' on Tulsa, Oklahoma based Samson Investment Company's (Samson) proposed $2.25 billion senior unsecured notes. The proposed notes aim to refinance the senior unsecured interim loans borrowed by Samson to finance its acquisition by Samson Resources Corp. (Holdings) an affiliate of Kohlberg Kravis Roberts & Co. L.P. (KKR) and other investors. Samson is also the borrower under the $2.25 billion senior secured reserve based lending (RBL) credit facility (unrated). Our simulated default scenario assumes a sustained period of low commodity prices and values the company's October 2011 reserves by incorporating stressed price deck assumptions of $45 per barrel of West Texas...

Companies mentioned in this report are: Samson Resources Corp

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Samson Resources Corp

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