Research Update: Samson Resources Corp. Rated 'B+'; Issues Rated 'B' (Recovery Rating: 5); Outlook Positive Jan 12
Standard & Poors, January 2012
Abstract
Independent U.S. oil and gas company Samson Resources Corp. (Samson) is planning to issue $2.25 billion of senior unsecured notes. We are assigning a 'B+' corporate credit rating to the company. We are assigning a 'B' issue-level rating and '5' recovery rating to Samson's proposed $2.25 billion senior unsecured notes. The positive outlook reflects the company's ability to successfully develop its liquids drilling strategy and potential for an upgrade if leverage drops to below 3.75x. On Jan. 31, 2012, Standard & Poor's Ratings Services assigned its 'B+' corporate credit rating to Tulsa, Okla.-based Samson Resources Corp. (Samson). The outlook is positive. At the same time, we assigned a 'B' issue rating (one notch lower than the corporate credit rating) to...
Companies mentioned in this report are:
- Samson Resources Corp
- Samson Investment Co.
Action: New Rating
Action: Outlook: Positive
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- Samson Resources Corp
- Samson Investment Co.
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