MEG Energy Corp.?s Proposed US$300 Million Term Loan And US$150 million Credit Facility Rated 'BB+' (Recovery Rtg: '1') - S&P Global Ratings’ Credit Research

MEG Energy Corp.?s Proposed US$300 Million Term Loan And US$150 million Credit Facility Rated 'BB+' (Recovery Rtg: '1')

MEG Energy Corp.?s Proposed US$300 Million Term Loan And US$150 million Credit Facility Rated 'BB+' (Recovery Rtg: '1') - S&P Global Ratings’ Credit Research
MEG Energy Corp.?s Proposed US$300 Million Term Loan And US$150 million Credit Facility Rated 'BB+' (Recovery Rtg: '1')
Published Dec 04, 2009
1067 words — Published Dec 04, 2009
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Abstract:

TORONTO (Standard&Poor's) Dec. 4, 2009--Standard&Poor's Ratings Services today said it assigned its 'BB+' issue-level ratings to Calgary, Alta.-based MEG Energy Corp.'s (BB-/Stable/--) proposed US$300 million secured term loan due April 2016 and US$150 million secured revolving credit facility due December 2013. We assigned '1' recovery ratings to the term loan and facility, indicating our expectations of very high (90%-100%) recovery in the event of a default. (For the complete recovery analysis, please see "Recovery Report: MEG Energy Corp.'s Recovery Rating Profile," to be published on RatingsDirect immediately following this report.) Proceeds from the proposed transactions will finance capital expenditures, including Phase 2B of MEG's Christina Lake project; fund the debt service account; support increased working-capital needs

  
Brief Excerpt:

RESEARCH MEG Energy Corp.aÇÖs Proposed US$300 Million Term Loan And US$150 million Credit Facility Rated '##+' (Recovery Rtg: '1') Publication date: 04-Dec-2009 Primary Credit Analyst: Jamie Koutsoukis, Toronto (1) 416-507-2552; jamie_koutsoukis@standar...

  
Report Type:

Ratings Action

Ticker
557089Z@CN
Issuer
MEG Energy Corp.
GICS
Oil & Gas Exploration & Production (10102020)
Sector
Global Issuers
Country
Canada
Region
Canada
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MLA:
S&P Global Ratings’ Credit Research. "MEG Energy Corp.?s Proposed US$300 Million Term Loan And US$150 million Credit Facility Rated 'BB+' (Recovery Rtg: '1')" Dec 04, 2009. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/MEG-Energy-Corp-s-Proposed-US-300-Million-Term-Loan-And-US-150-million-Credit-Facility-Rated-BB-Recovery-Rtg-1-761292>
  
APA:
S&P Global Ratings’ Credit Research. (). MEG Energy Corp.?s Proposed US$300 Million Term Loan And US$150 million Credit Facility Rated 'BB+' (Recovery Rtg: '1') Dec 04, 2009. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/MEG-Energy-Corp-s-Proposed-US-300-Million-Term-Loan-And-US-150-million-Credit-Facility-Rated-BB-Recovery-Rtg-1-761292>
  
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