...+ Minnetonka Minn.¡based oil and gas exploration and production (E&P) company Northern Oil and Gas Inc. has launched its credit facility refinancing, exchanged additional remaining unsecured notes and intends to repay its term loan credit facility and remaining unsecured notes with proceeds from a proposed notes offering and the new credit facility, thereby no longer being subject to a springing maturity of the facility. + We are affirming the 'B-' issuer credit rating on the company and revising the outlook to positive from negative. + We are also assigning a 'B+' issue-level rating to the company's 8.5% secured second-lien notes due 2023, which are increasing to approximately $700 million from $350 million through a notes offering. Proceeds from the add-on will be used to repay borrowings under the company's term loan credit facility. + The positive outlook reflects the company's improved leverage and liquidity profile, and the potential for an upgrade over the next 12 months if Northern...
