- Published: May 2012
- Region: New York, United States
Summary: Forest Oil Corp. Mar 12
- Published: March 2012
- Standard & Poors
Standard & Poor's Ratings Services' rating on Denver-based Forest Oil Corp. (Forest) reflects the capital-intensive and cyclical nature of the E&P industry and a reserve mix weighted toward weak natural gas prices. The ratings also reflect the company's good liquidity and onshore geographic diversity, along with the relatively low-risk nature of its drilling program. With the spin-off of its Canadian assets (Lone Pine), the company's remaining reserves are now levered exclusively to the U.S. We consider Forest to have an "aggressive" financial risk and a "fair" business profile (as our criteria define both terms). As of Dec. 31, 2011, Forest had about $1.9 billion in total adjusted debt, leaving last-12-months debt to EBITDA at 3.5x. Standard & Poor's uses a...
Companies mentioned in this report are: Forest Oil Corp.
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
Forest Oil Corp.