- Language: English
- 90 Pages
- Published: November 2011
- Region: Colombia
Research Update: Southwestern Energy Co. Rating Raised To 'BBB-' From 'BB+'; Outlook Stable Jul 10
- Published: July 2010
- Standard & Poors
U.S. oil and natural gas exploration and production (E&P) company Southwestern Energy Co. continues to post very strong operating results as evidenced by its industry-leading cost structure and considerable production growth. Despite aggressive spending the company has maintained very moderate leverage for the rating category. We are raising our long-term corporate credit rating on Southwestern Energy to 'BBB-' from 'BB+'. In addition, we are raising the rating on the unsecured debt to 'BBB-' from 'BB+' and withdrawing the '3' recovery rating. The stable outlook reflects our expectations that Southwestern will continue to grow reserves and production at a rapid pace and keep FFO to debt above 40%. On July 6, 2010, Standard & Poor's Ratings Services raised its long-term corporate...
Companies mentioned in this report are: Southwestern Energy Co.
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Product Type: Research Update
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Southwestern Energy Co.