Research Update: Northern Oil And Gas Inc. Upgraded To 'B-' From 'SD' On Note Exchange; Outlook Negative; Debt Rating Raised To 'CCC+' - S&P Global Ratings’ Credit Research

Research Update: Northern Oil And Gas Inc. Upgraded To 'B-' From 'SD' On Note Exchange; Outlook Negative; Debt Rating Raised To 'CCC+'

Research Update: Northern Oil And Gas Inc. Upgraded To 'B-' From 'SD' On Note Exchange; Outlook Negative; Debt Rating Raised To 'CCC+' - S&P Global Ratings’ Credit Research
Research Update: Northern Oil And Gas Inc. Upgraded To 'B-' From 'SD' On Note Exchange; Outlook Negative; Debt Rating Raised To 'CCC+'
Published May 29, 2018
8 pages (2636 words) — Published May 29, 2018
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

U.S.-based oil and gas exploration and production (E&P) company Northern Oil and Gas Inc. has completed its exchange of its unsecured notes for second-lien secured notes and equity. We are raising our corporate credit rating on the company to 'B-' from 'SD'. The outlook is negative. We are raising the issue-level rating on the company's unsecured debt to 'CCC+' from 'D'. The recovery rating is '5'. The negative outlook reflects our view that the company may be challenged to refinance debt ahead of 2020 maturities. On May 29, 2018, S&P Global Ratings raised its corporate credit rating on U.S.-based oil and gas E&P company Northern Oil and Gas Inc. to 'B-' from 'SD'. The outlook is negative. At the same

  
Brief Excerpt:

...+ U.S.-based oil and gas exploration and production (E&P) company Northern Oil and Gas Inc. has completed its exchange of its unsecured notes for second-lien secured notes and equity. + We are raising our corporate credit rating on the company to 'B-' from '##'. The outlook is negative. + We are raising the issue-level rating on the company's unsecured debt to '###+' from 'D'. The recovery rating is '5'. + The negative outlook reflects our view that the company may be challenged to refinance debt ahead of 2020 maturities....

  
Report Type:

Research Update

Ticker
NOG
Issuer
Northern Oil and Gas Inc.
GICS
Oil & Gas Exploration & Production (10102020)
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Northern Oil And Gas Inc. Upgraded To 'B-' From 'SD' On Note Exchange; Outlook Negative; Debt Rating Raised To 'CCC+'" May 29, 2018. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Northern-Oil-And-Gas-Inc-Upgraded-To-B-From-SD-On-Note-Exchange-Outlook-Negative-Debt-Rating-Raised-To-CCC-2046431>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Northern Oil And Gas Inc. Upgraded To 'B-' From 'SD' On Note Exchange; Outlook Negative; Debt Rating Raised To 'CCC+' May 29, 2018. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Northern-Oil-And-Gas-Inc-Upgraded-To-B-From-SD-On-Note-Exchange-Outlook-Negative-Debt-Rating-Raised-To-CCC-2046431>
  
US$ 225.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.