Moss Creek Resources Holdings Inc. Rated 'B'; Outlook Stable; $650 Million Unsecured Notes Rated 'B+' (Recovery: '2')

Houston-based oil and natural gas exploration and production (E&P) company Moss Creek Resources Holdings Inc. plans to issue $650 million in unsecured notes. We are assigning our 'B' corporate credit rating to the company. We are also assigning our 'B+' issue-level rating to the company's proposed $650 million senior unsecured notes, with a recovery rating of '2'. The stable outlook reflects our expectation that Moss Creek will be able maintain adequate liquidity and moderate credit measures as it develops its Permian acreage. DALLAS (S&P Global Ratings) Jan. 8, 2018--S&P Global Ratings today assigned its 'B' corporate credit rating to Moss Creek Resources Holdings Inc. The outlook is stable. At the same time, we assigned our 'B+' issue-level rating and '2'

...+ Houston-based oil and natural gas exploration and production (E&P) company Moss Creek Resources Holdings Inc. plans to issue $650 million in unsecured notes. + We are assigning our 'B' corporate credit rating to the company. + We are also assigning our 'B+' issue-level rating to the company's proposed $650 million senior unsecured notes, with a recovery rating of '2'. + The stable outlook reflects our expectation that Moss Creek will be able maintain adequate liquidity and moderate credit measures as it develops its Permian acreage. DALLAS (S&P Global Ratings) Jan. 8, 2018--S&P Global Ratings today assigned its 'B' corporate credit rating to Moss Creek Resources Holdings Inc. The outlook is stable. At the same time, we assigned our 'B+' issue-level rating and '2' recovery rating to the company's proposed $650 million senior unsecured notes. The '2' recovery rating indicates our expectation of substantial (70% to 90%; rounded estimate: 85%) recovery of principal in the event of default....

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