EXCO Resources Inc. Downgraded To 'B' On Revised Price Deck Assumptions; Outlook Negative May 12
- ID: 2127744
- May 2012
- Standard & Poors
On April 18, 2012, Standard & Poor's Ratings Services lowered its natural gas price assumptions for 2012, 2013, and 2014. As a result, we expect U.S. exploration and production (E&P) company Exco Resources Inc. to post weaker profitability and credit measures. We are lowering our long-term corporate credit rating on Exco to 'B' from 'B+'. We are also lowering our issue rating on Exco's senior unsecured debt to 'CCC+' from 'B-'. The negative outlook reflects our expectation that Exco's credit measures will deteriorate and remain weak for the rating category over the next 12 months. DALLAS (Standard & Poor's) May 9, 2012--Standard & Poor's Ratings Services said today that it lowered its corporate credit rating on Dallas-based Exco Resources Inc....
Companies mentioned in this report are:
- EXCO Resources Inc.
Action: Outlook: Negative
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