NEW YORK (S&P Global Ratings) Aug. 12, 2024--S&P Global Ratings today assigned its 'B+' issue-level rating and '2' recovery rating to U.S.-based exploration and production company Moss Creek Resources Holdings Inc.'s proposed $750 million senior unsecured notes due 2031. The '2' recovery rating indicates our expectation for substantial (70%-90%; capped at 85%) recovery of principal by creditors in the event of a payment default. The company intends to use the net proceeds from this offering, along with cash on hand, to redeem all of the outstanding $597 million 7.5% senior unsecured notes due 2026 and $401 million of its outstanding 10.5% senior unsecured notes due 2027 and to pay fees and expenses in connection with the redemptions. As of June
