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EXCO Resources Inc. Downgraded To 'B' On Revised Price Deck Assumptions; Outlook Negative May 12
Standard & Poors, May 2012
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
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.
Research type: News
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EXCO Resources Inc.