- Language: English
- Published: June 2012
Recovery Report: Halcón Resources Corp.'s Recovery Rating Profile Jan 13
- ID: 2386427
- January 2013
- Standard & Poors
We are updating our recovery analysis on Houston-based exploration and production (E&P) company Halcón Resources Corp. (Halcón), to reflect its recent $600 million add-on senior unsecured notes issuance. Halcon plans to use part of the proceeds from the notes issuance to repay the amount due on its reserve-based lending (RBL) credit facility; the remaining proceeds will prefund the company's near-term capital expenditure plans. The increase in the level of senior unsecured debt results in lower recovery prospects for the unsecured debt under our default scenario. However, our recovery and issue-level ratings on the unsecured debt remain unchanged. Standard & Poor's Ratings Services' analysis reflects a valuation of Halcon's third-quarter 2012 reserves (pro forma for its Williston basin acquisition), based on...
Companies mentioned in this report are:
- Halcon Resources Corp.
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